Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (RIL), and Denmark-based Stiesdal A/S (Stiesdal) signed a cooperation agreement for technology development and manufacturing of Stiesdal’s HydroGen Electrolyzers in India.
Stiesdal is founded by Henrik Stiesdal, a wind power pioneer and leading thought leader in the global renewable industry. Stiesdal is engaged in developing and commercializing several technologies to counter the climate crisis.
The agreement was signed during a state visit of Denmark to India and announced in the presence of the Hon’ble Mr. Narendra Modi, Prime Minister of India and the Hon’ble Ms. Mette Frederiksen, Prime Minister of Denmark.
The new technology for HydroGen Electrolyzers has the potential to deliver significant cost reduction compared to currently available technologies thereby paving the way for rapid decarbonization and commercialization of affordable Green Hydrogen – a key enabler in achieving India’s green energy transition.
Mukesh Ambani, Chairman of Reliance Industries, had announced ambitious plans of setting up a giga factory for the manufacturing of hydrogen electrolyzers in Jamnagar, Gujarat. Through this agreement, RNESL and Stiesdal will combine their strengths and capabilities and collaborate to further advance the technology development of HydroGen Electrolyzers and scale it up to set up manufacturing facilities.
As part of this agreement, RNESL and Stiesdal have also agreed to extend their collaboration to the development and implementation of other path-breaking climate change technologies which include offshore wind energy, next-generation fuel cells for conversion of hydrogen to electricity for mobile and static electricity generation, long-duration energy storage and production of carbon-negative fuels.
He said It is an important step towards fulfilling our commitment to accelerate India’s transition to green energy benefitting from our vast solar energy sources and scaling up innovative and leading technologies to meet this objective.
“We aim to leverage Stiesdal’s impressive portfolio of climate technologies to serve the India market and work together to make this portfolio a global pacesetter. In partnership with Stiesdal, we will strive to achieve our stated goal of offering Hydrogen energy under $1 per kg in 1 decade – the 1-1-1 target for Green Hydrogen,” Ambani said.
Henrik Stiesdal, CEO of Stiesdal A/S, said, “we are excited to enter into this agreement with Reliance New Energy Solar Limited, the New Energy platform of India’s largest industrial company. Production of low-cost hydrogen is a vital strategic element of the green transition in India and the world, and Reliance Industries have the reach and capability to ramp up electrolyzer production to the required levels.”