Billionaire Mukesh Ambani-led Reliance Industries is investing a massive corpus of Rs 75,000 crore in green energy solutions. Ambani, speaking at the International Climate Summit 2021, said that Reliance has already started developing the green energy complex in Jamnagar with an investment of Rs 75,000 crore. It will include four giga factories for solar cells, advanced battery storage systems, hydrogen manufacturing, and hydrogen fuel cells.
Reliance lays roadmap to create 5,000 acre green energy Giga complex
Ambani said, "We have started developing the Dhirubhai Ambani green energy Giga complex over 5,000 acres in Jamnagar. It'll be among the largest integrated renewable energy manufacturing facilities anywhere in the world. This complex will have four Giga factories which will cover the entire spectrum of renewable energy."
"The first will be an integrated solar photovoltaic module factory. The second will be an advanced energy storage battery factory. The third will be an electrolysis factory for the production of green hydrogen. fourth will be a hydrogen cell factory for converting hydrogen into mobile and stationary power," Ambani said.
Speaking at the event, Ambani said, "Reliance is fully committed to Prime Minister Modi's vision of fuelling India's green economy using clean energy... Prime Minister Modi has set the goal to reach 400 gw of renewable energy capacity by 2030. Out of this, Reliance will establish at least 100 gigawatt of solar energy by 2030."
Mukesh Ambani on climate change
Elaborating on Reliance Industries' efforts to combat climate change, he said, "Last year I had announced our ambitious commitment to make Reliance a zero carbon-emitting company by 2035. This year I presented a roadmap for our new energy business, which will be the next value creation engine for Reliance and India... Reliance will thus create an offer of a fully integrated end-to-end renewable energy ecosystem to India and Indians."
Ambani also said that climate change is an opportunity to create a more resilient future. "New green revolution has already begun in India and it will make India 100 percent energy independent," he said. He further called climate changes as the most daunting challenge humankind is facing. "Uncontrolled climate change can threaten life on our planet and the only option is rapid transition to a green era," he said.
"Climate change is most daunting challenge facing humankind. Uncontrolled climate change can threaten life on our planet and the only option is rapid transition to a green era," he said.
'Only option is rapid transition to renewable energy'
Ambani said that if old energy was on one hand the cause of the problems that climate change has presented, new energy will in turn be a part of the solution of this struggle. He said that climate change is in facr an opportunity to create a more resilient future. "New green revolution has already begun in india and it will make india 100% energy independent," he said.
India remarkably well placed to lead global movement in clean energy
"The Indian subcontinent is truly blessed.... with abundant renewable energy resources. Taking advantage of over 300 sunny days in a year, India can easily generate over 100 gigawatts of solar energy using just 0.5 percent of our land," Ambani pointed out.
"Solar is perfectly suited for decentralisation of energy production, which in turn can decentralise socio-economic development. By investing in smart two-way grids, micro-grids, efficient storage solutions and smart meters we can enable individuals, neighbourhoods, and communities to become both consumers and producers of energies. These installations can be located close to the demand.
"They have low maintenance requirements, and importantly they have a little environmental impact and entail zero human displacement problems. The rapid fall in the cost of production has made solar energy highly competitive attracting large-scale investments. This shall play a key role in ensuring similar growth in green hydrogen, a future replacement of fossil fuel," Ambani said.
Speaking on the promises that the green hydrogen technology holds, Ambani said that it is zero-carbon energy.
"It is the best and the cleanest source of energy which can play a fundamental role in the world's decarbonisation plans. Green hydrogen has a high gravimetric energy density and can be reconverted into heat and electricity with zero emissions. Although the cost of hydrogen from electrolysis today are high. They are expected to come down in the coming years. New technologies are emerging for hydrogen storage and transportation which will dramatically reduce the cost of transportation."
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