Reliance Industries Partners with Nel ASA to Accelerate Green Energy Investments
Key Ideas
- Reliance Industries Ltd's partnership with Nel ASA in green hydrogen production will aid its pivot towards green energy and new energy investments.
- The technology licensing agreement allows Reliance to exclusively license Nel's alkaline electrolysers in India and manufacture them globally for captive purposes.
- With ambitious plans to be a net zero carbon emission company by 2035, Reliance aims to produce 100 gigawatts of renewable energy by the end of the decade, contributing significantly to India's green energy targets.
- The partnership benefits both companies by supporting Reliance's energy ambitions and providing Nel with a new revenue stream while enhancing India's access to green energy technologies.
Reliance Industries Ltd's collaboration with Norway's Nel ASA marks a significant step towards accelerating green energy investments and transitioning towards sustainable practices. The partnership includes a technology licensing agreement granting Reliance exclusive rights to Nel's alkaline electrolysers in India and the ability to manufacture them globally. This move aligns with Reliance's commitment to becoming a net zero carbon emission company by 2035 and investing heavily in renewables infrastructure, including green hydrogen production. As part of its green energy business expansion, Reliance plans to contribute 100 gigawatts of renewable energy to India's energy landscape by the end of the decade, a substantial portion of the nation's non-fossil capacity target. The agreement not only supports Reliance's energy ambitions but also provides Nel with a new revenue stream and broader market access in India. This collaboration signifies a strategic partnership focused on sustainability, energy transition, and the advancement of green technologies in the Indian market.
Topics
Investing
Renewable Energy
Sustainability
Investment
Business Growth
Energy Transition
Carbon Neutrality
Technology Partnership
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