Business tycoon Mukesh Ambani declared that Reliance Industries will generate a minimum of 100 gigawatts of electrical energy from renewable sources and will later be converted into carbon-free green hydrogen.

The business tycoon says that he laid forth a 1-1-1 vision to bring down the price of hydrogen to $ 1 per kg in one decade.

The reason for generating electricity from renewable energy sources such as solar and wind is to reduce carbon emissions in the world’s third largest Greenhouse gas emitter.

At the same time, green hydrogen can wipe out the need of petrol and diesel in automobiles and other fuels in the industry. Overall helping to take away the meaning of having to rely on fossil fuels, saying goodbye to carbon emissions and most of all, reducing import dependence.

For that to happen, Reliance stated that it will work to reduce the cost of producing green hydrogen to under $ 2 per kg initially, and then to under $ 1 per kg within a decade. Currently, green hydrogen made from renewable resources costs between $ 3 and $ 6.55 per kg.

India plans to create over 1,000 GW of solar energy on just 0.5 percent of its territory, given that the country has already reached 100 GW of installed renewable energy capacity and that the goal of 175 GW by December 2022 is well within reach.

When it comes to satisfying the world's energy demands, hydrogen has been much debated about. It can be created from a range of resources, including natural gas, biomass, and renewable energy sources such as sun and wind. It can be utilized in automobiles, homes, portable power, and a variety of other applications.

Hydrogen, according to Ambani, has a high gravimetric energy density and can be turned into electricity and heat without emitting any pollutants.

"Although the cost of hydrogen produced by electrolysis is now expensive, it is likely to drop dramatically in the future years. New hydrogen storage and transportation technologies are coming, lowering the cost of distribution considerably”, he adds.

Mr.Ambani explains that in Jamnagar the construction on the Dhirubhai Ambani Green Energy Giga Complex, which spans 5,000 acres is already in progress. It will be one of the world's largest integrated renewable energy manufacturing plants. There will be four Giga Factories in this facility, covering the entire spectrum of renewable energy.

An integrated solar photovoltaic module factory, an advanced energy storage battery factory, an electrolyser factory for producing Green Hydrogen, and a fuel cell factory for converting hydrogen into motive and stationary power will be among the four Giga factories.

"We would invest Rs 75,000 crore in these activities over the next three years. As a result, Reliance will build and give India and Indians a fully integrated, end-to-end renewable energy ecosystem "he stated By 2030, Prime Minister Narendra Modi wants to reach 450 GW of renewable energy capacity. According to him, Reliance will set up and enable at least 100 GW of solar energy by 2030.