Vibrant Gujarat Summit witnesses MoUs worth Rs 10 lakh crore in renewable energy sector

The 10th edition of the Vibrant Gujarat Summit, which is  being  held in Gandhi Nagar has so far witnessed Memorandums of Understanding (MoUs) worth over Rs 10 lakh crore in the renewable sector.

As per Kanu Desai, Finance, Energy, and Petrochemicals, the Gujarat government stated during his address at the event on Friday, "Earlier, it was said that Gujarat is the best destination for investment. Now we can say that Gujarat is the best destination for renewable energy."

"MoUs of Rs 10 lakh crore on renewable energy so far have been signed in Gujarat," added Desai.

The development should be seen in the context of India's automotive energy, which is looking to transition towards cleaner automotive fuels, including electric vehicles, hydrogen, and biofuels, among others.

As per the state government officials as well as experts present at the event, India in general and Gujarat in particular have natural advantages in terms of very favourable geography when it comes to green hydrogen. With the help of the right policies, investments, and technological adoption, the region can easily replace the currently used grey hydrogen with green hydrogen, they added.

(With inputs from Shahkar Abidi)