Green hydrogen cost to come down to $1 per kg: Mukesh Ambani
New Delhi, Sept 3: Reliance Industries Chairman Mukesh Ambani on Friday said that cost of green hydrogen is expected to come down as India has the potential to achieve $1 per kilogram in the next 10 years.
Speaking at the International Climate Summit 2021, Mukesh Ambani also said that a new green revolution will help make India self-sufficient in energy production.
"A new green revolution has already begun in India. the old green revolution made India self-reliant in food production. the new green revolution will help make India self-sufficient in energy production. it is a matter of great pride for all of us that India has now achieved a major milestone of 100 gigawatts installed renewable energy," Ambani said.
Emphasising on the scope of Green Hydrogen, Ambani said, "Efforts are on globally to make Green Hydrogen 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."
Mukesh Ambani also announced that Reliance Industries Limited is building Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar which is said to be largest integrated renewable energy manufacturing facilities in the world.
The RIL conglomerate giant said that the Jamnagar complex will have 4 Giga Factories; one with integrated solar photovoltaic module factory, second with advanced energy storage battery factory. The third will be an electrolyser factory for the production of Green Hydrogen whereas fourth will be a fuel cell factory for converting hydrogen into motive and stationary power.
"Over the next three years we will invest Rs. 75,000 crores in these initiatives. Reliance will thus create and offer a fully integrated, end-to-end renewables energy ecosystem to India and Indians," Ambani announced.
This year, Prime Minister Narendra Modi in his address to the nation on the 75th Independence Day, launched the Green Hydrogen Mission in the country. Attributing to this, Ambani said that India is determined to achieve freedom from dependence on fossil energy and become Atma-Nirbhar in New and Renewal Energy.
On the renewable energy potential in India, Ambani said, "Taking advantage of over 300 sunny days in a year, India can easily generate over 1,000 GW of solar energy on just 0.5% of our land. Solar is perfectly suited to decentralised energy production, which in turn can promote decentralised socio-economic development. By investing in smart, two-way grids, micro-grids, efficient storage solutions and smart meters, we can enable individuals, communities and neighbourhoods to become both consumers and producers of energy."
As the Prime Minister has set a target to reach 450GW of renewable energy capacity by 2030, Ambani in his address said that Reliance will establish and enable at least 100GW of solar energy by then.