NEW DELHI: Reliance Industries Ltd Chairman Mukesh Ambani on Friday called for faster adoption of clean mobility, ‘Jio’ in the energy transition by producing green hydrogen at $1 per kg, or about Rs 73 at Friday’s dollar exchange rate. unveiled its plans. Solutions available to the world at this point.
India’s richest man told International Climate Summit 2021, “Green hydrogen is zero-carbon energy. It is the best and cleanest source of energy, which can play a fundamental role in the world’s decarbonization plans.” Reduce the cost to $2 per kilo and eventually less than $1 in a decade.
Ambani’s vision for green hydrogen has a familiar ring. This has the potential to disrupt the mobility and energy transition markets, the way Reliance entered the telecom market with Jio, which lowered tariffs and connected data services to consumers—the ‘internet-of-all-things’. A key component to moving towards ‘. Currently the price of green hydrogen ranges from $3 to $6.55 per kilogram.
Ambani also said that Reliance will install 100 gigawatts (GW) of renewable energy capacity by 2030, as part of a $10 billion green energy stipulation announced to shareholders on June 25. The company will use the electricity generated from this capacity to produce hydrogen by hydroelectricity. With abundant sunlight, India can generate over 1,000 GW of solar power. This energy uses only 0.5% of the country’s land area, he said, adding that India has already achieved 100 GW of renewable energy capacity and a target of 175 GW by December 2022 is now in sight.
Reliance’s focus on hydrogen is a key component to achieving Ambani’s net-zero goals. “Last year, I announced my ambitious commitment to make Reliance a net-carbon zero company by 2035. This year, I presented my strategy and roadmap for the new energy business, which will be the next big ‘value creation’ for Reliance. The engine will be ‘and India,'” he said.
“We have started developing the 5,000-acre Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. This will be one of the largest integrated renewable energy manufacturing facilities in the world. The complex will have four Giga factories, which will enable the entire spectrum of renewable energy. cover,” he said.
Hydrogen is the flavor of the season, thanks to the government’s National Hydrogen Mission. It is part of the government’s strategy to reduce the economy’s carbon footprint as New Delhi evades the pressure of announcing a net-zero target. Power and Renewable Energy Minister Raj Kumar Singh told TOI that India has the potential to become the “largest, if not the largest” producer of green hydrogen.
Prime Minister Narendra Modi has set a target of reaching 450 GW of renewable energy capacity by 2030. Of this, Reliance will install and enable at least 100 GW of solar power by 2030, he said. This, Ambani said, he said, would create a pan-India network of kilowatt and megawatt scale solar power producers that could produce green hydrogen for local consumption.
“Over the next three years, we will invest Rs 75,000 crore in these initiatives. Reliance will thus build and offer a fully integrated, end-to-end renewable energy ecosystem for India and Indians,” he said.
The four Giga factories will include an integrated solar photovoltaic module factory, an advanced energy storage battery factory, an electrolyzer factory for the production of green hydrogen, and a fuel cell factory for converting hydrogen into motive and stationary power.
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