Reliance Industries targets 100 GW RE by 2030, H2 cost under $1: Mukesh Ambani
Reliance Industries aims to create or enable capacity to generate at least 100 GW (gigawatts) of electricity from renewable sources, which can be converted into carbon-free green hydrogen by 2030, said Mukesh Ambani, Chairman while speaking at the International Climate Summit 2021 as he delineated a 1-1-1 vision to bring down the cost of hydrogen to under $1 per 1 kg in 1 decade.
The focus on producing electricity from renewable sources of energy such as solar and wind -will help cut carbon emissions in the world's third-largest GHG (greenhouse gas) emitter.
The same electricity, when transformed into green hydrogen, can replace petrol and diesel in automobiles and other fuels in the industry, helping cut down on the use of fossil fuels, carbon emissions and reduce import dependence.
He also said that Reliance will pursue the target of bringing down the cost of making green hydrogen to under $2 per kg primarily and eventually to bring it down to under $1 per kg in a decade.
Green hydrogen produced with renewable resources costs between about $3 per kg and $6.55 a kg.
With ample sunlight, India can generate over 1,000 GW of solar energy on just 0.5 percent of landmass, he said, adding that the nation has by now accomplished the 100 GW of installed renewable energy capacity and the target of 175 GW by December 2022 is now well within sight.
Further, the nation is pursuing 450 GW of renewable energy by 2030.
"Green Hydrogen is zero-carbon energy. It is the best and cleanest source of energy, which can play a vital role in the world's decarbonization strategies," he said.