RIYADH: India’s Reliance Industries Ltd. will revamp a $4 billion facility that currently converts petroleum coke to synthesis gas to produce blue hydrogen instead.
This comes amid the Indian conglomerate’s efforts to be among the biggest blue hydrogen producers in the world, with a competitive cost ranging from $1.2 to $1.5 per kilogram, Bloomberg has reported.
The corporation intends to use this as a temporary measure until green hydrogen costs become competitive.
“In the interim, till cost of green hydrogen comes down, RIL can be the first mover to establish a hydrogen ecosystem, with minimal incremental investment, in India,” Bloomberg reported, citing the firm.
Mukesh Ambani, the company’s largest shareholder, has pledged to produce green hydrogen at $1 per kilogram, representing a 60 percent drop from today’s market costs.
The plan also falls under Reliance’s goal to achieve net zero by 2035.
