1.Technology Partnership: RIL entered into a technology licensing agreement with Nel ASA, granting RIL an exclusive license to use and manufacture Nel's alkaline electrolysers in India and for captive purposes globally.
2.Green Hydrogen Production: This partnership supports RIL's pivot towards green energy, specifically in the production of green hydrogen, which is key for emissions reduction and decarbonizing their portfolio.
3.Strategic Benefits: For RIL, the agreement accelerates its new energy investments and integrates new energy solutions with existing energy investments. For Nel, it opens a new revenue stream and market access in India.
4.Market Share and Capacity: Nel ASA holds a 10-15% global market share in electrolysers, with significant deliveries expected in 2023-2024.
5.Renewables Investment: RIL's chairman, Mukesh Ambani, announced a $75 billion investment in renewables infrastructure, including green hydrogen production, aiming to make RIL a net zero carbon emission company by 2035.
6.Renewable Energy Goals: RIL aims to produce 100 gigawatts of renewable energy, contributing significantly to India's national target of 500GW of installed renewable energy by 2030, with a major focus on solar power.
7.Decarbonization and Sustainability: The agreement aligns with RIL's goal of achieving net zero carbon emissions by 2035, which is ahead of any other energy company in the region.
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