India could export $500 billion in green energy over 20 years, Mukesh Ambani says – Times of India

NEW DELHI: India may turn into a world green energy superpower with exports of clean energy rising to $500 billion over the subsequent 20 years, Mukesh Ambani, chairman of oil-to-telecom conglomerate Reliance Industries, stated on Wednesday.
Corporations together with Reliance have introduced plans value billions of {dollars} to spice up renewable power capability together with constructing battery storage, gas cells and producing inexperienced hydrogen at lower than $1 per kilogram.
“If the final 20 years, we have been identified for India’s emergence as an IT superpower, subsequent 20 years, I consider, together with expertise, will mark our emergence as a superpower in power and life sciences,” Ambani, one in every of Asia’s richest males, stated on the Asia Financial Dialogue.
India is the world’s third largest oil importer and shopper and its energy sector is closely reliant on coal.
Ambani stated India ought to have a method to finish dependence on fossil fuels within the subsequent two to a few a long time.
“For the subsequent two to a few a long time, India’s dependence on coal and imported oil will proceed. However, we should have a plan to remove that within the subsequent two to a few a long time.”
The billionaire stated the nation must observe “low-carbon and no-carbon methods” within the close to and medium time period.
Prime Minister Narendra Modi has set a goal to make India a net-zero carbon emitter by 2070. The nation plans to put in 450 gigawatts (GW) of renewable power by 2030, from about 105 GW at the moment, and has not too long ago introduced plan to provide 5 million tonnes of inexperienced hydrogen per yr by 2030.
“We have now to ensure (we) convey value of inexperienced hydrogen at a greenback per kilo and be sure that we transport and disburse it additionally at lower than a greenback per kilo,” Ambani stated.
“I believe we will do all this plus or minus 20%,” he stated.

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