Reliance Industries' Green Energy Revolution: Ambani Signs Deal with Nel ASA for Hydrogen Technology
Key Ideas
  • Mukesh Ambani's Reliance Industries has partnered with Norway's Nel ASA to source technology for producing green hydrogen, a crucial element in emissions reduction goals.
  • Reliance aims to be a net zero carbon emission company by 2035 and plans to invest USD 75 billion in renewables infrastructure, including solar panels and electrolyzers.
  • The agreement allows Reliance to have an exclusive license to manufacture Nel's alkaline electrolysers for both Indian and global markets, marking a significant milestone in Nel's history.
Mukesh Ambani, the chairman of Reliance Industries and the richest man in Asia, is steering his company towards a green energy revolution by signing a strategic agreement with Norway's Nel ASA. This partnership aims to leverage technology for the production of green hydrogen, viewed as vital in achieving emissions reduction goals. Reliance's commitment to becoming a net zero carbon emission company by 2035 aligns with its ambitious plans to invest USD 75 billion in renewables infrastructure, including solar panels and electrolyzers. The exclusive license granted to Reliance by Nel ASA for manufacturing alkaline electrolysers signifies a significant step in advancing the production of green hydrogen in India and globally. The collaboration between the two companies also includes plans for joint research and development efforts to enhance performance and cost efficiency of the electrolyzer technology platform. This partnership not only benefits Reliance's goal of becoming a prominent global producer of renewable hydrogen but also opens up a revenue stream for Nel ASA in a rapidly growing market. With the Indian government aiming for 500GW of installed renewable energy by 2030, Reliance's ambition to produce 100 gigawatts of renewable energy is poised to significantly contribute to the nation's non-fossil capacity targets. The agreement between Reliance and Nel ASA reflects a strategic move towards sustainable energy solutions and signifies a major stride towards a greener future in the Indian energy sector.
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