Reliance to invest in green hydrogen, renewable energy in Tamil Nadu

Chairman and Managing Director of Reliance Industries Mukesh Ambani revealed in a video message at the Tamil Nadu Global Investor Meet (GIM) in Chennai that Reliance Industries Ltd is set to embark on fresh investments in green hydrogen and various renewable energy sectors within Tamil Nadu. He said that this announcement aligns with Reliance Industries’ intensified focus on advancing its green energy initiatives.

The exact investment from Reliance in Tamil Nadu through this announcement is yet to be disclosed.

Ambani emphasized the commitment to collaborate closely with the state government to foster sustainable development, a critical endeavor in combating the climate crisis and preserving the environment. Expressing confidence in the state government’s support, he anticipated the alignment of their forthcoming initiatives with practical policies.

As part of its new energy business strategy, RIL has pledged a substantial $10 billion investment over the next three years, aiming to achieve net carbon neutrality by 2035. The company envisions offering affordable green hydrogen as a viable substitute for traditional fuels.

The Tamil Nadu Global Investor Meet (GIM) has witnessed significant investment commitments from various companies, including Tata Electronics, JSW Energy, and TVS Group. These initiatives aim to re-establish Tamil Nadu as a premier investment destination amid competitive efforts from other Indian states such as Karnataka, Maharashtra, Gujarat, and Telangana.

IIT Madras has joined forces with multiple partners under the Hydrogen Valley Innovation Cluster in Tamil Nadu (HVIC-TN) initiative, focusing on economically producing future fuel at scale. The overarching goal is to position Tamil Nadu as a leader in green hydrogen production.

Adding to the momentum, the V O Chidambaranar Port Authority, overseeing the Thoothukudi port in Tamil Nadu, has issued a letter of intent to ACME Cleantech Solutions Pvt Ltd. The agreement involves leasing 222.79 acres of port land for a substantial green hydrogen and green ammonia project, requiring an investment of Rs52,474 crore.

With Tamil Nadu already being a prominent producer of renewable energy, particularly in solar and wind energy, the state is naturally well-positioned for high prospects in green hydrogen production.