0

0

0

0

0

0

0

0

0

This article is more than 1 month old.

Green Hydrogen at $1 per kg: Mukesh Ambani's solution to India's fossil fuel woes

Mini

Reliance Industries chairman Mukesh Ambani on Friday said that India can set an aggressive target to bring down the cost of hydrogen to $1 dollar per kilogram in the next decade.

Green Hydrogen at $1 per kg: Mukesh Ambani's solution to India's fossil fuel woes
Reliance Industries chairman Mukesh Ambani on Friday said that India can set an aggressive target to bring down the cost of hydrogen to $1 dollar per kilogram in the next decade. Ambani was speaking at the International Climate Summit 2021 he also said that RIL will create or enable at least 100 Giga Watt (GW) out of 450 GW of green energy by 2030 as targeted by India.
“Green Hydrogen is the best and cleanest source of energy, which can play a fundamental role in the world’s decarbonisation plans. Efforts are on globally to make Green Hydrogen the most affordable fuel option by bringing down its cost to initially under USD 2 per kg. Let me assure you all that Reliance will aggressively pursue this target and achieve it well before the turn of this decade. And India has always set and achieved even more audacious goals. Am sure that India can set an even more aggressive target of achieving under USD 1 per kg within a decade. This will make India the first country globally to achieve $1 per 1 kilogram in 1 decade – the 1-1-1 target for Green Hydrogen," he said.
He also announced that RIL has started developing Dhirubhai Ambani Green Energy Giga Complex spread over 5,000 acres in Jamnagar. The integrated renewable energy manufacturing facilities will include an integrated solar photovoltaic module factory, advanced energy storage battery factory, electrolyser factory for green hydrogen production, and fuel cell factory. The investment in the next 3 years will be Rs 75,000 crore.
He lauded the milestone of 100 GW installed renewable energy capacity in India and highlighted that 300 sunny days in a year in India can help India generate 1,000 GW of solar energy on just 0.5 percent of the land and play a key role in green hydrogen production.
“Solar is perfectly suited to decentralised energy production, which in turn can promote decentralised socio-economic development. Importantly, they have a little environmental impact and entail zero human displacement problems. The rapid fall in the cost of production has made solar energy highly competitive, attracting large-scale investments. This shall play a key role in ensuring similar growth trends in “Green Hydrogen” – the future replacement of fossil fuels.”
Ambani emphasised on the fact that the world needs to achieve an absolute reduction in emissions as humankind is facing the impact of climate change. He lauded Prime Minister Narendra Modi’s vision on green energy and said that India has sent a strong message to the world and the new green revolution will make India self-reliant in energy production.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
next story