The Hague [Netherlands], October 26 (ANI): India is uniquely positioned to generate low-cost renewable power round the clock, supported by its abundant solar energy resources, competitive costs and growing energy storage capabilities, according to Occo Roelofsen, CEO of Netherlands-based clean energy company Power2X.

Speaking to ANI during Union Commerce and Industry Minister Piyush Goyal's visit to the Netherlands, Roelofsen said India's renewable energy potential and industrial capabilities could help the country emerge as a major supplier of green fuels to international markets.

'We see that the Indian market has an abundance of solar energy at very competitive cost. And also we see that in India, the industry is in a very capable position to provide battery storage, pump storage, and therefore India is one of those unique countries where it's possible to create 24-hour low-cost renewable power,' he told ANI.

He said India's ability to combine renewable energy generation with storage could also open up new export opportunities.

'We see therefore that the Indian industry can build out this setup relatively quickly. We also at the same time believe it opens a window for export,' Roelofsen said.

He explained that renewable electricity could be converted into green ammonia or methanol for exports, allowing countries such as the Netherlands to use these fuels in their domestic industries.

Roelofsen also revealed that Power2X was in discussions to import green methanol from India for its facilities in Rotterdam.

'We are in close conversations to agree on imports of green methanol here to our facilities in Rotterdam,' he said.

He added that Indian green methanol could be used to produce sustainable aviation fuel for the European market.

Referring to discussions with the minister, Roelofsen said the meeting also covered cooperation on a green corridor between India and the Netherlands, along with regulatory alignment and import-export insurance arrangements.

On potential investments in India, he clarified that the company's approach would primarily involve signing fuel purchase agreements, which could support investments in new renewable energy and green methanol production facilities in India.

'For us the investment is basically through signing contracts to buy the fuel, so that this would basically support local investments into new facilities, new solar, new methanol facilities,' he said.

The remarks come as India seeks to expand its green hydrogen and green fuel industry under the National Green Hydrogen Mission, with an emphasis on building domestic production capacity and developing export markets.

Roelofsen said India's cost advantages and industrial experience made its green hydrogen and green methanol industries important for the success of Power2X's European operations. (ANI)