This post is a part of DIL Intelligence series from Energy Alternatives India (EAI), India’s leading climate-tech consulting firm.
DIL stands for Decarbonization for India’s Leaders and provides comprehensive market intelligence and updates to Indian corporate leaders on prominent decarbonization efforts across the Indian industrial ecosystem. DIL is provided by EAI’s strategy consulting team. More about our consulting from here.
Reliance Industries Limited (RIL) has committed to invest Rs 75,000 crore in three years towards the “Green Vision” plan, aiming to create a fully integrated, end-to-end renewable energy ecosystem.
In the solar energy sector, Reliance aims to establish and enable 100 GW of solar energy generation by 2030, investing over Rs 75,000 crore (USD 10 billion) in building the most comprehensive ecosystem for New Energy and New Materials in India. They have shown interest in biofuels, investing in Altigreen Propulsion Labs Private Limited, an EV company, and exploring the production of fuel from algae.
In the biomass energy sector, Reliance has conducted a successful trial using torrefied biomass firing in a gasifier to produce hydrogen and employed a co-firing strategy that uses biomass in conjunction with coal at its Dahej and Hazira manufacturing units. They are pursuing their target to bring the cost of green hydrogen production to $1 per kilogram by 2030 and invest $75 billion in India to make it a green hydrogen hub.
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Partnerships for Progress:
RIL has partnered with Ambri Inc., a US-based company, Faradion, a UK-based company, and Lithium Werks, based in the Netherlands, all in the energy storage space.
RIL has also invested in Germany’s NexWafe, a pioneer in next-gen technology to produce monocrystalline silicon wafers needed in making solar panels. In addition, RIL acquired a stake in REC Solar, a global technology leader in solar panel manufacturing, and picked up a 40% stake in Sterling & Wilson Renewable Energy, one of the world’s leading EPC turnkey contractors in large-scale solar projects.
In the Hydrogen ecosystem, RIL joined hands with the US-based Chart Industries to set up the India H2 Alliance to commercialize hydrogen technology and develop a supply chain in collaboration with other Indian stakeholders.
RIL also entered into an agreement with Denmark’s Stiesdal A/S for its innovative next-gen electrolyzer technology, which has the potential to dramatically reduce the cost of producing hydrogen from pure water.
RIL’s subsidiary REC Solar Pte Ltd. tied up Reliance Group’s first green financing aggregating $586 million including a $250 million green term loan and $336 million five-year green bank guarantee facility.
This post is a part of DIL Intelligence series from Energy Alternatives India (EAI), India’s leading climate-tech consulting firm.
DIL stands for Decarbonization for India’s Leaders, and provides comprehensive market intelligence and updates to Indian corporate leaders on prominent decarbonization efforts across the Indian industrial ecosystem. DIL is provided by EAI’s strategy consulting team. More about our consulting from here.
