Reliance New Energy signs pact with Stiesdal

The cooperation agreement is for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India.

"In partnership with Stiesdal, RIL would strive to achieve its stated goal of offering Hydrogen energy under $1 per kg in 1 decade," RIL chairman, Mukesh Ambani said. File photo

Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), and Denmark-based Stiesdal A/S have signed a cooperation agreement for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India.

Stiesdal is engaged in developing and commercializing several technologies to counter climate crisis.

“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,” RIL and Stiesdal said in a joint statement.

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 development and implementation of other 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.

'Commitment to India's transition'

RIL chairman Mukesh Ambani in a statement said, “It [the cooperation agreement] 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 India market and work together to make this portfolio a global pace setter,” he said.

“In partnership with Stiesdal, RIL would strive to achieve its stated goal of offering Hydrogen energy under $1 per kg in 1 decade,” he added.

Henrik Stiesdal, CEO of Stiesdal A/S, said, “For us there could be no greater impact than seeing our technology scaled up for use in the world’s largest democracy. 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.”