RIL aims to invest $75 billion to produce green hydrogen in India

Mr. Ambani has pledged to produce green hydrogen at $1 per kg, almost reducing it to 60% than today’s costs

Mukesh Ambani, Chairman & MD of Reliance Industries Ltd. (RIL), has earlier announced plans to invest around $75 billion in renewable infrastructure together with generation plants, electrolyzes and solar panels. Speculations are made that the strategy which involves transforming the clean power into hydrogen will be the largest endorsements in the next-generation fuel.

According to analysts, Reliance is expected to opt for hydrogen in a tender for avoiding the wholesale electricity market of India which is subjugated by fiscally hassled utilities and troubled by delayed payments.

Gagan Sidhu, Director at the Centre for Energy Finance at New Delhi-based think tank CEEW, said that Reliance is preparing itself for apprehending the complete value chain of the green hydrogen economy.

Details on how much will be spent on hydrogen is not yet disclosed by Reliance, however, the $75 billion investment in clean energy is one of the largest ever recorded in the country. Apart from this, other companies like Adani Enterprises Ltd. and Indian Oil Corp. and NTPC Ltd. have also set some plans for green hydrogen.

As per credible source, countries undertaking hydrogen strategy have doubled last year and the expected plans from nations like India, U.S., Brazil and China could restructure the global market.

Although, the sector is still in experiment mode and too far from commercially feasible in India. The country is depending on its billionaires for leading the way. The major challenge will be producing green hydrogen at an affordable costs.

Furthermore, Ambani has pledged to produce green hydrogen at $1 per kg, almost reducing it to 60% than today’s costs. Last year, Ambani said that Reliance will be aggressively pursuing this target and achieve it much before this decade.

Source Credit - https://energy.economictimes.indiatimes.com/news/renewable/mukesh-ambanis-75-billion-plan-aims-to-make-india-a-hydrogen-hub/89233784