AGL 8.30 Decreased By ▼ -0.03 (-0.36%)
ANL 10.95 Increased By ▲ 0.25 (2.34%)
AVN 79.70 Increased By ▲ 1.51 (1.93%)
BOP 5.75 Increased By ▲ 0.18 (3.23%)
CNERGY 5.64 Increased By ▲ 0.26 (4.83%)
EFERT 79.36 Increased By ▲ 0.71 (0.9%)
EPCL 67.48 Decreased By ▼ -0.31 (-0.46%)
FCCL 14.89 Increased By ▲ 0.39 (2.69%)
FFL 6.70 Increased By ▲ 0.10 (1.52%)
FLYNG 7.16 Increased By ▲ 0.13 (1.85%)
GGGL 11.60 Increased By ▲ 0.26 (2.29%)
GGL 17.51 Increased By ▲ 0.27 (1.57%)
GTECH 8.35 Increased By ▲ 0.05 (0.6%)
HUMNL 7.17 Increased By ▲ 0.11 (1.56%)
KEL 3.14 Increased By ▲ 0.06 (1.95%)
LOTCHEM 35.20 Increased By ▲ 2.33 (7.09%)
MLCF 28.35 Increased By ▲ 0.05 (0.18%)
OGDC 87.70 Increased By ▲ 3.15 (3.73%)
PAEL 16.63 Increased By ▲ 0.18 (1.09%)
PIBTL 6.05 Increased By ▲ 0.20 (3.42%)
PRL 19.46 Increased By ▲ 1.34 (7.4%)
SILK 1.14 No Change ▼ 0.00 (0%)
TELE 11.41 Increased By ▲ 0.31 (2.79%)
TPL 9.20 Increased By ▲ 0.20 (2.22%)
TPLP 20.25 Increased By ▲ 0.37 (1.86%)
TREET 27.10 Increased By ▲ 0.48 (1.8%)
TRG 96.20 Increased By ▲ 1.70 (1.8%)
UNITY 20.85 Increased By ▲ 0.48 (2.36%)
WAVES 13.90 Increased By ▲ 0.27 (1.98%)
WTL 1.34 Increased By ▲ 0.03 (2.29%)
BR100 4,275 Increased By 67 (1.59%)
BR30 15,794 Increased By 348.3 (2.26%)
KSE100 42,872 Increased By 628.4 (1.49%)
KSE30 16,219 Increased By 247.6 (1.55%)

NEW DELHI: India could become a global green energy superpower with exports of clean energy rising to $500 billion over the next 20 years, Mukesh Ambani, chairman of oil-to-telecom conglomerate Reliance Industries, said on Wednesday.

Indian companies including Reliance have announced plans worth billions of dollars to boost India's renewable energy capacity including building battery storage, fuel cells and producing green hydrogen at less than $1 per kilogram.

"If the last 20 years, we were known for India's emergence as an IT superpower, next 20 years, I believe, along with technology, will mark our emergence as a superpower in energy and life sciences," Ambani, one of Asia's richest men, said at the Asia Economic Dialogue.

Oil hits highest since 2014

India is the world's third largest oil importer and consumer and its power sector is heavily reliant on coal.

Ambani said India should have a strategy to end dependence on fossil fuels in the next two to three decades.

"For the next two to three decades, India's dependence on coal and imported oil will continue. But, we must have a plan to eliminate that in the next two to three decades."

The billionaire said India would have to follow "low-carbon and no-carbon strategies" in the near and medium term.

Prime Minister Narendra Modi has set a target to make India a net-zero carbon emitter by 2070. The nation plans to install 450 gigawatts (GW) of renewable energy by 2030, from about 105 GW currently, and has recently announced plan to produce 5 million tonnes of green hydrogen per year by 2030.

"We have to make sure (we) bring cost of green hydrogen at a dollar per kilo and make sure that we transport and disburse it also at less than a dollar per kilo," Ambani said.

"I think we will be able to do all this plus or minus 20%," he said.

Comments

Comments are closed.