Ambani stated last year that Reliance would pursue an aggressive goal to manufacture green hydrogen at a cost of $1 per kilogramme by the end of this decade. The cost to produce the fuel in India at the time ranged from $2.22 to $4.62 per kilogramme.
Digital Desk: In an effort to manufacture low-cost green hydrogen
in the nation, Reliance Industries Ltd., owned by Indian billionaire Mukesh
Ambani, is evaluating novel electrolyzer manufacturing methods.
Kapil Maheshwari, head of
new energy at Reliance, stated at the BloombergNEF summit in New Delhi on
Wednesday that the company also intends to compete for any production-related
incentives the government may offer to promote the technology.
The first stage of the green hydrogen strategy was revealed by the
administration of Prime Minister Narendra Modi in February, and it included a
number of incentives for businesses to start projects. Raj Kumar Singh, the
minister for power and renewable energy, stated last week that India is
thinking about providing more "sweeteners" for producers.
Investors, including
Ambani and rival tycoon Gautam Adani, have committed tens of billions of
dollars to green hydrogen. The fuel is viewed as essential to decarbonizing
difficult-to-abate businesses like steel mills and oil refineries, helping to
achieve global targets to eliminate emissions and combat global warming. It is
created by splitting water with the use of clean energy sources like wind
power.
Maheshwari claimed that by compelling some sectors to buy the
fuel, a move the government is now debating, India can provide clarity about
policies and aid in the development of a market for green hydrogen.
Ambani stated last year that Reliance would pursue an aggressive
goal to manufacture green hydrogen at a cost of $1 per kilogramme by the end of
this decade. The cost to produce the fuel in India at the time ranged from
$2.22 to $4.62 per kilogramme.
As their fossil
fuel-driven empires transition away from oil and coal, Ambani and Adani have
committed more than $140 billion in green projects. The two business moguls
support the government's goal of making India the world's leading producer and
exporter of green hydrogen, which is at the centre of this transformation.
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