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					</table><p>The uneven geographic distribution of critical mineral resources used in clean energy supply chains makes international collaboration and strategic partnerships crucial, a new report by the International Energy Agency (<u><a href="https://www.iea.org/" target="_blank" rel="noopener">IEA</a></u>) has said.</p>
<p>The report said that the three largest producer countries account for at least 70% of the manufacturing capacity for technologies related to solar panels, wind, EV batteries, electrolyzers, and heat pumps. China was dominant in all of them.</p>
<p>A big chunk of mining for critical minerals was concentrated in a small number of countries. For instance, the Democratic Republic of Congo produces over 70% of the world’s cobalt, and just three countries – Australia, Chile, and China – account for more than 90% of global lithium production.</p>
<p>In its <em>Energy Technology Perspectives 2023, </em>the IEA provides a comprehensive analysis of global manufacturing of clean energy technologies and their supply chains today. It also maps out how they are likely to evolve as the energy transition advances.</p>
<p>The report highlights the specific challenges related to the critical minerals needed for many clean energy technologies, noting the long duration for developing new mines and the need for strong environmental, social, and governance standards are hurdles.</p>
<p>The risk of tight supply chains, in turn, results in pushing up the prices for clean technologies, thereby making countries’ energy transitions more difficult and expensive, the IEA report said.</p>
<p>Increasing prices for cobalt, lithium, and nickel led to the <a href="https://mercomindia.com/lithium-ion-battery-prices-rise-for-first-time-to-151-kwh/" target="_blank" rel="noopener">rise</a> in electric vehicle battery prices which jumped by nearly 10% globally in 2022. The cost of wind turbines outside China has also been rising after years of decline, and similar trends are being seen in solar PV.</p>
<p><strong>Industrial Strategies by Major Economies</strong></p>
<p>IEA Executive Director Fatih Birol said that a new global energy economy has become a central pillar of economic strategy and every country needs to identify how it can benefit from the opportunities and navigate the challenges.</p>
<p>The report noted that major economies were combining their climate, energy security, and industrial policies into broader strategies for their economies.</p>
<p>For instance, the Inflation Reduction Act (<a href="https://mercomindia.com/inflation-reduction-act-faster-transition-clean-energy-u-s/" target="_blank" rel="noopener">IRA</a>) in the United States, the Fit for 55 package and <a href="https://mercomindia.com/eu-to-expedite-renewable-expansion/" target="_blank" rel="noopener">REPowerEU</a> plan in the European Union, Japan’s Green Transformation program, and the Production Linked Incentive (<a href="https://mercomindia.com/production-linked-incentive-solar-modules-approved/" target="_blank" rel="noopener">PLI</a>) scheme in India encouraged the manufacturing of solar PV and batteries.</p>
<p>China, it said, was working to meet and even exceed the goals of its latest Five-Year Plan.</p>
<p>Amid the regional ambitions for scaling up manufacturing, the report underscored the importance of international trade in clean energy technology supply chains.</p>
<p>Nearly 60% of solar PV modules produced worldwide were traded across borders. Trade was also important for EV batteries and wind turbine components, with China being the main net exporter today.</p>
<p><strong> </strong><strong>Future Estimates and Meeting Net-Zero</strong></p>
<p>The report suggested that if countries worldwide fully implement their announced energy and climate pledges the global market for key mass-manufactured clean energy technologies would be worth around $650 billion a year by 2030, three times today’s level.</p>
<p>Birol said, “If everything announced as of today gets built, the investment flowing into manufacturing clean energy technologies would provide two-thirds of what is needed in a pathway to net zero emissions.”</p>
<p>However, the report found only 25% of the announced manufacturing projects globally for solar PV were under construction or beginning construction. The number was around 35% for EV batteries and less than 10% for electrolyzers.</p>


Industrial Strategies Key to Tackling Global Energy Challenges: IEA


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					</table><p>Delhi-based <a href="https://greenzoenergy.com/" target="_blank" rel="noopener">Greenzo Energy India</a> said it will invest $50 million to manufacture 250 MW of anion exchange membrane (AEM) electrolyzers per year and the balance of plant (BOP) in the Sanand-II Industrial Estate, a part of Gujarat Industrial Development Corporation (<a href="https://gidc.gujarat.gov.in/" target="_blank" rel="noopener">GIDC</a>).</p>
<p>&#8220;We aim to set up a cost-effective green electrolysis plant, supporting green hydrogen projects, and making our nation self-sufficient in the hydrogen initiative,&#8221; Sandeep Agarwal, Founder &amp; MD of Greenzo Energy India, said.</p>
<p>The company aims to provide end-to-end solutions for green hydrogen production and storage.</p>
<p>The initial investment will be towards market research, business development, lab equipment, and technology evaluation.</p>
<p>Additionally, the company said it received an investment commitment of $1 million from angel investor <a href="https://www.realtimeaf.com/" target="_blank" rel="noopener">Real Time Accelerator Fund</a>.</p>
<p>Pranay Mathur, CEO of Real Time Accelerator Fund, said, &#8220;We are delighted to be part of the green field. This investment will not only benefit green fuel production and carbon footprint reduction, but it will also be a significant step toward providing a good quality of life to our future generation&#8221;.</p>
<p>The company has signed a memorandum of understanding for project engineering with UK-based public limited companies.</p>
<p>For technological support, it will collaborate with its in-house team comprising former employees of the NTPC and technology experts from the Indian Institute of Technology (IIT).</p>
<p>Greenzo Energy India was launched to focus primarily on the renewable energy sector to develop the latest innovations in green hydrogen in India.</p>
<p>The company works toward accelerating the adoption of renewable energy in developing countries through consulting services, research, and innovations.</p>
<p>In July, Greenzo Energy <a href="https://mercomindia.com/daily-news-wrap-up-greenzo-energy-green-hydrogen-projects/" target="_blank" rel="noopener">inked</a> an agreement with Nepal-based renewable energy company API Power to develop 50 MW green hydrogen plants in the next three years. API Power will invest ₹10 billion (~$120.98 million) in the 50 MW green hydrogen projects, generating 4,000 MT of hydrogen annually.</p>
<p>Earlier in April, NTPC Renewable Energy <a href="https://mercomindia.com/ntpc-invites-bids-from-electrolyzer-technology-providers/" target="_blank" rel="noopener">issued</a> a notice for upcoming invitations for bids to select electrolyzer technology providers to participate in green hydrogen tenders for two years.</p>


Greenzo Energy to Invest $50 Million in Green Hydrogen Tech in Gujarat

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