RIL’s overall initial investment from its own internal resources in the New Energy business will be INR 75,000 crore (over $10 billion), in three years.
“I am delighted to know that an ‘International Climate Summit 2021’ is being organised on 3rd September, with an ambitious agenda to ‘Power India’s Hydrogen Ecosystem’. By actively patronising it, the Government of India has demonstrated its deep commitment to the agenda.
The world is today at the brink of a fundamental and disruptive transition in the way energy is sourced, produced, distributed and used. The era of fossil fuels, which powered economic growth globally for nearly three centuries, is transitioning to a new age of green, clean and renewable energy. This transition has been necessitated by two priorities. First, our planet’s fragile ecology has been engendered by the huge quantities of carbon that the use of fossil fuels has emitted into the environment. Therefore, urgent action to overcome the climate crisis has become the prime responsibility of the international community. Second, the energy needs of a large section of the global population of over 7.5 billion and growing, are set to grow steeply. These needs can no longer be met by traditional hydrocarbon fuels.
These two factors are also relevant in the Indian context. As one of the only two countries in the world with a population of over one billion, India has to take the lead in bearing the flag of reversing climate change. At the same time, we also need more energy as we march confidently to become one of the three largest economies in the world. India’s power consumption is currently only one third of the global average. This will vastly increase as we endeavor to improve the quality of life of our citizens, a vast majority of whom currently suffer from energy deprivation. Therefore, in order to meet these twin obligations, India must make a rapid transition to ensure ample and affordable clean energy to every Indian and to every sector of the Indian economy.
Together with solar, wind, batteries and carbon capture, hydrogen will be an important element of India’s future ecosystem. Hydrogen, the ‘energy vector of the 21st century’, is the best and cleanest source of energy, which can play a fundamental role in our decarbonisation plans. It is also set to become affordable in the coming years. We can realise this vision with the adoption of breakthrough technologies and the right set of policies that promote an army of new energy entrepreneurs. The draft National Hydrogen Mission is a great leap in the right direction.
Under the inspiring leadership of our Prime Minister Shri Narendra Modi ji, I have no doubt that India will emerge as a nation that shows the path of sustainability to the rest of the world while we make ourselves truly ‘Atmanirbhar’ in achieving energy security.
I congratulate the organisers of the ‘International Climate Summit 2021’ and wish the event full success.”
Self reliance in energy through Green Hydrogen
“As demand for energy rises worldwide, there is a growing need for tapping alternate energy sources that are not only greener, but also renewable and abundant in supply. Hydrogen is one such source that has a much
higher energy output per unit mass.
India’s advantage due to its geographical location, climate conditions and abundance of renewable sources of energy like solar, wind and hydro make it ideal for becoming the world’s cheapest hydrogen hub by 2050.”