The 65-year-old industrialist stated in his speech at the 45th Reliance AGM on Monday that the company is evaluating new electrolyser manufacturing technologies as part of its efforts to manufacture low-cost green hydrogen in India.
Digital Desk: Mukesh Ambani, the chairman and managing director of Reliance Industries, announced on Monday that the company is planning to switch from producing grey hydrogen to green hydrogen by 2025.
In the following five years, the corporation will also invest Rs 75,000 crore in the petrochemical industry.
The 65-year-old industrialist stated in his speech at the 45th Reliance AGM on Monday that the company is evaluating new electrolyser manufacturing technologies as part of its efforts to manufacture low-cost green hydrogen in India. It is important to note that RIL is one of the world's biggest producers of grey hydrogen at this point.
RIL Chairman Ambani said, "We are in advanced discussions to partner with other leading electrolyser technology players globally to set up a giga-scale electrolyser manufacturing facility at Jamnagar." We have teamed up with Stiesdal to accelerate cost reduction and commercialization of our pressurised alkaline electrolyzer technology, Ambani said.
Ambani further announced that the company will build gigafactories for fuel cell systems, energy storage, green hydrogen, and solar panels. He also disclosed the opening of the company's new power electronics gigafactory.
"I'm happy to report that over the next five years, we'll invest Rs. 75,000 crore and increase our capacity in both old and new value chains, including the polyester, vinyl, and new materials value chains," Ambani stated.
Ambani emphasised that decarbonizing the global economy will necessitate $5 trillion in annual international investments in green and clean energy for several decades.He also stressed that the new energy sector provides unparalleled prospects for multi-decade growth.
For RIL's New Energy business, which is considerably more ambitious, far more transformative, and far more global in scope than anything Reliance has ever done, this highlights the sheer magnitude of responsibility and potential, he continued.
In addition to this, RIL's new energy sector will expand domestic R&D efforts and turn India into a hub for intellectual property. Most importantly, it seeks to establish India as a market leader in the production of new energy and a respectable rival to China.
Ambani also named his youngest son Anant as the leader of the new energy sector in Reliance's succession plan.
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