#mukesh ambani green hydrogen

[livemintvideos]

Mukesh Ambani and Gautam Adani, two of India's biggest businessmen, are about to invest roughly $70 billion each by the end of this decade to make green hydrogen affordable, including renewable energy plants, large-scale photovoltaic cell manufacturing, electrolyzers, storage, and transportation facilities, and other components of the hydrogen ecosystem. The government declared it would cover the cost of renewable energy used to create hydrogen at a location other than the source of the power.

[earaercircular]

India, the green superpower

The climate battle is not won at UN summits, but in boardrooms, writes Ine Renson. The fact that India is embarking on a major revolution is encouraging.

A new dramatic development halfway through the climate summit in Sharm-el-Sheikh. India suddenly proposed not only to reduce the use of coal, but to include all fossil fuels into the ban. The other delegations couldn't believe what they heard. Last year, India damped the positive vibe somewhat by stopping the phase-out of coal. After a closer look, the proposal in Egypt was a manoeuvre to drown the entire package. India gambled that it was a bridge too far for many countries to ban gas and oil. By pushing the item on the agenda, it was able to take some pressure off the maligned coal.

This type of games led to the top becoming a flop. But that does not mean that we are blindly marching towards the climate hell that UN chief António Guterres predicted for us. After all, more interesting things happen back stage.

“India will become a champion in cheap green energy this decade.” That remarkable statement comes from Mukesh Ambani[1], one of the richest businessmen in the country, who made his fortune in gas, oil and petrochemicals. Its conglomerate Reliance Industries is pumping $80 billion into a clean energy cluster in the port of Jamnagar[2], where it will produce solar panels, energy storage systems and electrolysers. There will be a 100 gigawatt solar farm. Soon, Ambani assured his shareholders, India will rival China as the world leader in the green energy industry. He called it the biggest revolution his multinational has ever experienced. Reliance must be climate neutral by 2035. Compared to the priorities set by most countries, that is dizzyingly fast.

Across the Gulf of Kutch[3], Adani Group[4] operates one of the largest coal ports in the world. In addition to the coal-fired power stations, a clean technology cluster will also appear here that will manufacture everything from wind turbines to solar panels and components for hydrogen production. Adani is also building a gigantic wind and solar farm. CEO Gautam Adani puts $ 70 billion on the table.

Silver lining

That's not hot air. The money finds its way, the joint ventures with Western companies have been achieved. The government of Narendra Modi hopes that green energy will become the flywheel for an industrial boom that will take production lines, such as those of electric cars, away from China. India's total electricity production capacity is 400 gigawatts. The country wants to add 350 gigawatts of green infrastructure to this over the next eight years.

It's the silver lining behind the flopped top. If the major polluters are in a green race, things can move quickly. The climate battle is being won in boardrooms, not in an Egyptian resort. They don't want to miss the train in those rooms. Renewable energy is a financial no-brainer: sun is already cheaper than coal, the price is diving further into the abyss. Indian solar energy is very cheap due to an abundance of sun and cheap labour. The country has an army of ICT people and engineers. As soon as that market gets going, the money flows in. According to the International Energy Agency (IEA) [5], India is becoming a magnet for investments in wind turbines, battery storage or solar panels.

We can hardly overestimate the importance of that revolution. India now produces most of its electricity from coal. It is the second largest producer of coal and the third largest emitter of greenhouse gases in the world. Nowhere in the world will energy demand increase faster. The growing economy will soon have the world's largest population. Millions of households will want houses, cars and air conditioners. Matching this immense energy hunger with the ambitions to reduce emissions is only possible with green energy.

Yet something strange is going on. Just before climate minister Bhupender Yadav[6] was due to fly to Egypt with sharpened ambitions, his colleague from Finance was present at an auction for the operation of 141 new coal mines. “India needs greater investment in coal production,” said Nirmala Sitharaman[7] firmly. There is no road backwards.

All roads pass through India

Despite the bonanza of wind and sun, the Modi government is sticking to coal. Coal Minister Pralhad Joshi[8] expects coal production to increase by half this fiscal year. New mines are licensed, old ones are reopened. Dozens of coal-fired power stations are under construction.

India is sitting on a mountain of coal. This remains a reliable and cheap fuel in a country where millions live in energy poverty. Away from the tech boom on the west coast and in the big cities, it provides jobs to four million poor people, mainly in the east. The coal lobby is supreme. As the operator of coal-fired power plants, the state is knee-deep in it.

That casts a shadow on the beautiful picture. The money may be sloshing around in the green economy, but the government must provide the framework. With legislation and guarantees for the faltering distribution companies. By investing in energy storage, electrifying the vehicle fleet and installing smart networks down to the smallest villages. That command cannot be delayed. There is no room to bet on two horses.

That's why we need to keep an eye on India. The biggest challenge for the transition lies here, and in other emerging countries such as China, Indonesia, Brazil or South Africa. In China, Xi Jinping can roll out a ten-year plan with the snap of his fingers. In the largest democracy in the world, this is more difficult. The revolution must go beyond conflicting interests, parties and priorities. The moment at which the social tipping point has also been reached will be crucial. Air pollution in the country is a killer. It is ravaged by heat waves that destroy crops and claims lives. Cities such as Delhi and Mumbai threaten to become unliveable by the end of the century. For now, climate and pollution are low on the priority list of the millions struggling to survive. But as large groups move into the middle class, that could soon change.

Growing countries are watching with suspicion how India handles it. It stands in front of the Hercules task of proving that one can grow, overturn the energy and production system and reduce emissions at the same time. “All roads to a successful global energy transition go through India,” said IEA CEO Fatih Birol at the presentation of the latest energy report[9]. That doesn't even seem like an exaggeration. Hopefully Modi has also understood that he has to go all in. Playtime is over.

Source

Ine Renson, India, de groene supermacht, in: De Standaard, 25-11-2022, https://www.standaard.be/cnt/dmf20221124_98618263

[1] Mukesh Dhirubhai Ambani (born 19 April 1957) is an Indian billionaire businessman. He is the chairman and managing director of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India's most valuable company by market value. Reliance Industries, has established the world's largest Oil Refining and Petrochemicals Complex in Jamnagar district.

[2] Jamnagar is a city located on the western coast of India in the state of Gujarat of Saurashtra region. It is the administrative headquarters of the Jamnagar district and the fifth largest city in Gujarat. The city lies just to the south of the Gulf of Kutch, some 337 kilometres (209 mi) west of the state capital, Gandhinagar.

[3] The Gulf of Kutch is located between the peninsula regions of Kutch and Saurashtra, bounded in the state of Gujarat that borders Pakistan. It opens towards the Arabian Sea facing the Osman Gulf.

[4] Adani Group is an Indian multinational conglomerate, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises. The Group's diverse businesses include port management, electric power generation and transmission, renewable energy, mining, airport operations, natural gas, food processing and infrastructure. In April 2021, Adani Group became the third Indian conglomerate to cross US$100 billion in market capitalisation

[5] The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organisation, established in 1974, that provides policy recommendations, analysis and data on the entire global energy sector, with a recent focus on curbing carbon emissions and reaching global climate targets, including the Paris Agreement. The 31 member countries and 11 association countries of the IEA represent 75% of global energy demand. https://www.iea.org/about

[6] Bhupender Yadav (born 30 June 1969) is an Indian politician who serves as the Union Cabinet Minister of Labour and Employment, Environment, Forest and Climate Change in the Government of India. He is the National General Secretary of the Bharatiya Janata Party. He is a Member of Parliament in the Rajya Sabha, representing the state of Rajasthan, a position he has held since 2012. He was re-elected in April 2018.

[7] Nirmala Sitharaman (born 18 August 1959) is an Indian politician serving as the Minister of Finance and Corporate Affairs of India since 2019. She is a member of the Rajya Sabha, upper house of the Indian Parliament, since 2014. Prior to that, she served as a national spokesperson for the Bharatiya Janata Party. Sitharaman featured in the Forbes 2021 list of World's 100 most powerful women and was ranked 37.

[8] Pralhad Venkatesh Joshi[3] (born 27 November 1962) is an Indian politician who is the current union Minister of Parliamentary Affairs, Coal and Mines of India, since 30 May 2019 and Member of Parliament in the Lok Sabha, since 2004, representing the Dharwad Lok Sabha constituency. He was also the State President of Bharatiya Janata Party, Karnataka (BJP) from 2014 to 2016. He served in the panel of chairpersons of Lok Sabha (2014-2018).

[9] Read also: https://at.tumblr.com/earaercircular/the-global-energy-crisis-may-be-accelerating/1c66rudrkgnf

[shlipayadavblog]

Reliance Industries seeks new technologies to make cheaper green hydrogen

Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, is assessing new technologies for making electrolyzers in its efforts to produce low-cost green hydrogen in the country.

As part of the push, the company also plans to bid for any production-linked incentives the government may offer to encourage the technology, Kapil Maheshwari, president for new energy at Reliance, said at the BloombergNEF summit in New Delhi on Wednesday.

Prime Minister Narendra Modi’s government unveiled the first phase of its green hydrogen policy in February, offering a range of incentives for companies to set up projects. India is considering offering more ���sweeteners” for producers, Power and Renewable Energy Minister Raj Kumar Singh said last week.

Green hydrogen has drawn tens of billions of dollars in investment commitments from investors, including Ambani and rival tycoon Gautam Adani. The fuel, produced by splitting water with the help of clean energy like wind power, is seen as critical to decarbonizing hard-to-abate industries such as oil refineries and steel mills, helping meet global targets to zero out emissions and fight global warming.

[monicasharmalove]

Indian Oil follows billionaires Ambani, Adani in green hydrogen bet

Indian Oil Corp. Ltd., the country's greatest oil purifier and a huge client of hydrogen, will cooperate with top sustainable power maker ReNew Power and Larsen and Toubro Ltd. to deliver green hydrogen that is quick picking up speed in the South Asian country's perfect push. The three organizations have marked a limiting term sheet to together foster green hydrogen projects, while the state-run purifier and the designing significant will shape a different association for making electrolyzers for green hydrogen, as per a joint assertion from the three firms. The association will zero in on green hydrogen projects at Indian Oil's Mathura and Panipat treatment facilities in northern India.

Green hydrogen, created from water and green power and considered the cleanest type of fuel, is an expected way to decarbonize weighty businesses, like steel, concrete and petroleum processing plants. India, the world's third-greatest producer of ozone harming substances, plans to start to lead the pack and has won help from its most extravagant tycoons, Mukesh Ambani and Gautam Adani. India means to deliver 5 million tons of green hydrogen by 2030, when its interest for hydrogen is assessed at 12 million tons.

India's treatment facilities consume around 2,000,000 tons of hydrogen yearly, quite a bit of it by the Indian Oil bunch, which holds 33% of the country's oil handling limit. Indian Oil is as of now pursuing delivering 70,000 tons per year of green hydrogen by 2030, which will represent 10% of its general utilization at that point. Processing plants regularly use hydrogen for the expulsion of sulfur from energizes like diesel.

[mylucky137276]

Indian Oil follows billionaires Ambani, Adani in green hydrogen bet

Indian Oil Corp. Ltd., the country’s biggest oil refiner and a large user of hydrogen, will partner with top renewable energy producer ReNew Power and Larsen & Toubro Ltd. to produce green hydrogen that’s fast gaining momentum in the South Asian nation’s clean push.

The three companies have signed a binding term sheet to jointly develop green hydrogen projects, while the state-run refiner and the engineering major will form a separate partnership for making electrolyzers for green hydrogen, according to a joint statement from the three firms. The partnership will focus on green hydrogen projects at Indian Oil’s Mathura and Panipat refineries in northern India.

Green hydrogen, produced from water and green electricity and considered the cleanest form of fuel, is a potential path to decarbonize heavy industries, such as steel, cement and oil refineries. India, the world’s third-biggest emitter of greenhouse gases, plans to take the lead and has won support from its richest billionaires, Mukesh Ambani and Gautam Adani. India aims to produce 5 million tons of green hydrogen by 2030, when its demand for hydrogen is estimated at 12 million tons.

India’s refineries consume about two million tons of hydrogen annually, much of it by the Indian Oil group, which holds a third of the nation’s oil processing capacity. Indian Oil is already working toward producing 70,000 tons a year of green hydrogen by 2030, which will account for 10% of its overall consumption by that time. Refineries typically use hydrogen for the removal of sulfur from fuels like diesel.

Read Complete Article

[vishwadha]

Reliance Industries seeks to be world's top blue hydrogen maker

Reliance Industries seeks to be world’s top blue hydrogen maker

Reliance Industries Ltd., helmed by Asia’s richest man Mukesh Ambani, aims to be among the largest producers of blue hydrogen at “competitive cost” in its ambitious green-energy transition plan. The Mumbai-based company will re-purpose a $4-billion plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for $1.2-$1.5 a kilogram, according to a presentation.…

[divyabhashkar]

Ambani’s $75 billion plan aims to make India a hydrogen hub

Ambani’s $75 billion plan aims to make India a hydrogen hub

Billionaire Mukesh Ambani’s ambitious effort to pivot his conglomerate Reliance Industries Ltd. toward green energy could transform India into a clean-hydrogen juggernaut. Ambani, Asia’s richest man who’s built his fortune on fossil fuels, announced plans earlier this month to invest $75 billion in renewables infrastructure including generation plants, solar panels and electrolyzers. There is…

[reportwire]

Mukesh Ambani’s US$75 billion plan to turn India into a hydrogen hub

Mukesh Ambani’s US$75 billion plan to turn India into a hydrogen hub

Billionaire Mukesh Ambani’s ambitious effort to pivot his conglomerate Reliance Industries Ltd. toward green energy could transform India into a clean-hydrogen juggernaut.Ambani, Asia’s richest man, announced plans earlier this month to invest US$75 billion in renewables infrastructure including generation plants, solar panels and electrolysers. There is growing speculation that the strategy…

[salam2050]

L&T, Goldman-Backed ReNew Tie Up For Green Hydrogen Projects

L&T, Goldman-Backed ReNew Tie Up For Green Hydrogen Projects

New Delhi: Indian engineering conglomerate Larsen & Toubro said on Thursday it will jointly own and operate green hydrogen projects with Goldman Sachs-backed green energy producer ReNew Power. The partnership between L&T and the renewable energy company is the latest big-ticket entry into the green hydrogen production space in India, following announcements of ambitious plans by Mukesh Ambani and…

[shlipayadavblog]

India's green energy exports to touch $500 bn in 20 years: Mukesh Ambani

Mukesh Ambani, chairman and managing director of oil-to-telecom conglomerate Reliance Industries Limited (RIL) said on Wednesday that India’s green energy exports would cross $500 billion in the coming two decades. The statement comes at a time when RIL has started aggressive expansion into the green energy sector with solar equipment manufacturing, green hydrogen production and energy storage.

Speaking at the Asia Economic Dialogue, Ambani said India’s green energy exports will follow the growth trajectory of the country’s technology and digital exports. “India’s technology and digital exports have risen to $150 billion from less than $10 billion 20 years ago. By 2030, I believe they will exceed half a trillion dollars. Similarly, India’s Clean and Green Energy exports in the next 20 years at the end of 20 years also has the potential of half a trillion dollars of export.”

In June last year, RIL announced its foray into green energy with a Rs 75,000-crore investment in the coming three years. It has plans to invest in solar power generation and manufacturing, hydrogen production, e-fuels, and energy storage under its “New Energy and New Materials” division.

RIL’s newly formed arm Reliance New Energy Solar Ltd (RNESL) was one of the companies which won the first solar manufacturing tender offered under the PLI scheme. India is currently a net importer in solar cells and modules with close to 75 per cent capacity built on Chinese imported content.

[freemindtech]

Reliance's green energy business taking shape, may contribute 10% of EBITDA in 5 years, Auto News, ET Auto

Reliance’s green energy business taking shape, may contribute 10% of EBITDA in 5 years, Auto News, ET Auto

Reliance is expected to continue to invest in technology such as fuel cells and key materials for the clean energy sector. Billionaire Mukesh Ambani’s Reliance Industries Ltd has made a wave of partnerships to give shape to its green energy business that spans solar, battery and hydrogen investments and could contribute almost 10 per cent of the company’s pre-tax profits in five years, a report…

[indian-petrochem]

Oct 06, 2021

8Billionaire Mukesh Ambani's Reliance Industries Ltd plans to transform its energy business with an over-arching strategy to offer decarbonisation solutions globally at a competitive price in a market potentially worth USD 5 trillion by 2030, Morgan Stanley said. Over the next few decades, the world will need to fundamentally retool the way it produces and consumes energy.

Reliance is embracing the change and investing to provide green infrastructure solutions to power this change, via silicon and hydrogen -- a USD 60 billion value creation opportunity, Morgan Stanley said in a report.

[mohdabuhamam]

Ambani Races Toward Exclusive $100 Billion Wealth Club

Ambani Races Toward Exclusive $100 Billion Wealth Club https://www.bloomberg.com/news/articles/2021-09-03/world-s-richest-people-mukesh-ambani-races-toward-100-billion-club

[we-future-first]

India can achieve green hydrogen cost of $1 per kg in a decade: Mukesh Ambani. "Although the cost of green H2 energy is currently high, they are expected to fall significantly. New technologies are emerging for storage & transportation of green H2 which will lead to a further reduction in costs"

submitted by /u/chopchopped [link] [comments]

source https://www.reddit.com/r/Futurology/comments/phnx15/india_can_achieve_green_hydrogen_cost_of_1_per_kg/

[techminsolutions]

Mukesh Ambani sees green hydrogen costs coming down to $1 per kg in 10 yrs

Mukesh Ambani sees green hydrogen costs coming down to $1 per kg in 10 yrs

Mukesh Ambani, Chairman and Managing Director of Reliance Industries (RIL), on Friday said India can be the first country to bring down the cost of green hydrogen to $1 per kg within a decade, reiterating the company’s push towards alternate energy. Addressing the International Climate Summit 2021, he said, “Efforts are on globally to make green hydrogen the most affordable fuel option by…

[jeetjagani]

India can achieve green hydrogen cost of $1 per kg in a decade: Mukesh Ambani. "Although the cost of green H2 energy is currently high, they are expected to fall significantly. New technologies are emerging for storage & transportation of green H2 which will lead to a further reduction in costs" via /r/Futurology https://ift.tt/3kSNodF