‘Will cut down cost of green energy’

NEW DELHI: Reliance Industries will by 2030 create or enable capacity to generate at least 100 gigawatts of electricity from renewable sources, which can be converted into carbon-free green hydrogen, its chairman Mukesh Ambani said Friday as he outlined a 1-1-1 vision to bring down the cost of hydrogen to under $1 per 1 kg in a decade.

The focus on generating electricity from renewable sources of energy such as solar and wind will help cut carbon emissions in the world’s third-largest greenhouse gas emitter. The same electricity, when converted 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.

Speaking at the International Climate Summit 2021, he said Reliance will pursue the target of bringing down the cost of making green hydrogen to under $2 per kg initially and ultimately 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 abundant sunlight, India can generate over 1,000 GW of solar energy on just 0.5% of landmass, he said, adding that the nation has already achieved 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 targeting 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 fundamental role in the world’s decarbonisation plans,” he said.

Hydrogen is the latest buzz for meeting the world’s energy needs. Being the cleanest form of energy, it can be produced from a variety of resources, such as natural gas, biomass, and renewable power like solar and wind. It can be used in cars, in houses, for portable power and in many more application.