Reliance exploring new technologies to produce low-cost green hydrogen

By Sakina Raj  | Date: 2022-06-24

Reliance exploring new technologies to produce low-cost green hydrogen

Reliance Industries Ltd is reportedly seeking new technologies to make electrolyzers for producing cheaper green hydrogen in India.

As part of the latest move, the company plans to bid for any production allowances offered by the government to promote the technology, according to Reliance’s President for new energy Kapil Maheshwari.

The government of India launched the first phase of its green hydrogen scheme in February this year. It will provide a variety of initiatives for companies to establish projects.

Green Hydrogen has encouraged investors like Ambani and Adani to shell out tens of billions of dollars. The fuel is deemed crucial for decarbonizing industries like steel mills and oil refineries to help meet zero-emissions goals and combat global warming.

Mr. Maheshwari has commented that the country needs to ensure the policies and help create a green hydrogen market by encouraging some industries to buy the fuel which the administration is already discussing.

Last year, Mukesh Ambani stated that Reliance will aim to produce green hydrogen at USD 1 per kilogram by the end of 2030. Moreover, the cost of producing green hydrogen in 2021 was between USD 2.22 and USD 4.62 per kilogram in India.

Adani and Ambani have committed over USD 140 billion in green investments as their fossil-fuel-powered businesses shift from coal and oil. Green hydrogen is vital to this transition as the two business tycoons support the Modi government’s aim to make India a global producer and exporter of green hydrogen.

In another relevant news, the UK government recently announced allocating USD 460 million package to accelerate the development of clean and green hydrogen technologies. This move forms the part of the efforts to bolster the country’s energy security.

The fund offered by Department for Business, Energy and Industrial Strategy mentioned that the new package includes USD 294.6 million grant to advance the government’s ambitions to install 2GW of green hydrogen production capacity by 2025.

Source credits: https://economictimes.indiatimes.com/industry/renewables/reliance-seeks-new-technologies-to-make-cheaper-green-hydrogen/articleshow/92402351.cms

About Author

Sakina Raj     aeresearch.net

Sakina Raj

Armed with a degree in English Literature, Sakina chose to explore the world of content writing and pursue it as a career. Sakina has been playing with words for over five years now and currently pens down articles relating to diverse domains for BonafideNews and vari...

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