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Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), and Denmark-based Stiesdal have signed a cooperation agreement for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India.
The agreement was signed during a state visit of Denmark to India and announced in the presence of Mr. Narendra Modi, Prime Minister of India, and Ms. Mette Frederiksen, Prime Minister of Denmark.
The deal will help the RNSL achieve its goal of 1-1-1 for green-hydrogen production (making one kilo of green hydrogen available for $1 inside of one decade)
The move comes as Mukesh Ambani had announced plans of setting up a Giga factory to manufacture electrolysers 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 electrolysers.
The new technology of HydroGen Electrolyzers has the potential to deliver significant cost reductions in the production of green hydrogen, thereby paving the way for achieving India’s green energy transition, said the statement.
As part of the deal, RNESL and Stiesdal have also agreed to extend their collaboration to 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.
Mukesh Ambani in a statement 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 India market and work together to make this portfolio a global pace setter,” he added.