Reliance Industries Ltd., based in India, plans to rebuild a $4 billion facility that currently transforms petroleum coke to synthesis gas into blue hydrogen.
Bloomberg reports that this comes amid the Indian conglomerate’s attempts to become one of the world’s largest blue hydrogen manufacturers, with a cost of $1.2 to $1.5 per kilogram.
This will be a temporary solution until green hydrogen costs become competitive, according to the company.
“Until the cost of green hydrogen falls, RIL can be the first mover in India to develop a hydrogen ecosystem with minimum further expenditure,” Bloomberg said, quoting the company.
Mukesh Ambani, the company’s largest shareholder, has committed to producing green hydrogen at a cost of $1 per kilogram, a 60 percent reduction from current market prices.
The proposal is also in line with Reliance’s objective of being net-zero by 2035.
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