This year, Reliance will commission a new energy mega complex

This year, Reliance will commission a new energy mega complex

This year, Reliance will commission a new energy mega complex

In the second half of 2024, Reliance Industries, owned by Mukesh Ambani, aims to commission a new energy mega complex in Gujarat.

By the end of 2024, Reliance Industries plans to put Gujarat's New Energy Giga Complex into service.

In an earnings statement and investor call, Reliance Industries Ltd., owned by billionaire Mukesh Ambani, said that it would commission a new energy mega complex in Gujarat in the second half of 2024.

In Jamnagar, Gujarat, Reliance is developing a mega complex spanning 5,000 acres. Five gigafactories for green hydrogen production, fuel cell technology, photovoltaics, energy storage, and power electronics are housed inside the complex.

"It is on track to commission new energy facilities in phases this year," the business said investors during a conference call after its third-quarter results report. Ambani said "new" after the release of the third-quarter results on Friday. The second part of CY24 is when the Energy Giga Complex is scheduled to be put into service. I have no doubt that Reliance's New Energy division will contribute significantly to the global push for clean fuels.

One of the biggest integrated renewable energy production plants in the world will be the Dhirubhai Ambani Green Energy Giga Complex. Reliance and the Gujarati government have inked a memorandum of understanding (MoU) to establish 100 GW of renewable energy at a Rs 5 lakh crore capital cost. A 74,750 acre (hectare) plot of land in Kutch has been approved in principle for the production of green hydrogen.

Ten international technological innovators with deep knowledge of the new energy value chain have received significant investments from the company. In a note dated January 17, Nuvama said, "Reliance is close to commissioning the first tranche of 5GW module manufacturing capacity in mid-CY24."

With Suzhou Maxwell Technologies, a company located in China, it has inked a supply deal to buy a high-efficiency manufacturing line for HJT cells with a 4.8GW capacity from REC Solar. In January 2023, it entered into a production automation deal for 5.2GW of HJT modules with SC Solar, a Chinese company.

For a 300 MW electrolyzer, it added 0.3.received a US$0.23 per kilogram incentive and a US$0.23 incentive for a 90,000-ton green hydrogen capacity. It also received PLI for 5GW capacity under ACC Battery Storage.

"These incentives are most likely to help Reliance achieve green hydrogen costs of US$1'1.5 per kg," Nuvama said. As the biggest manufacturer and user of gray hydrogen, RIL said that switching to green hydrogen would help it increase its profit margins even further.

Due to the high cost of producing solar and wind power as well as the high cost of the electrolyzer, the cost of green hydrogen is now US$3 per kilogram, which is still 1.5 times that of gray hydrogen generated using natural gas.

Currently, the most affordable way to produce green hydrogen is to use solar and wind energy together. Given that wind energy costs 65–70 percent and hybrid energy costs 70 percent, solar power is still the most expensive owing to the electrolyzer's PLF of 30–35 percent.