Reliance Industries Ltd., is assessing new technologies for making electrolyzers in its efforts to produce low-cost green hydrogen in the country.
As part of the push, the company also plans to bid for any production-linked incentives the government may offer to encourage the technology.
Prime Minister Narendra Modi’s government unveiled the first phase of its green hydrogen policy in February, offering a range of incentives for companies to set up projects.
Green hydrogen has drawn tens of billions of dollars in investment commitments from investors, including Ambani and rival tycoon Gautam Adani.
Reliance will pursue an aggressive target to produce green hydrogen at $1 per kilogram by the end of this decade, Ambani said last year.
Ambani and Adani have pledged more than $140 billion in green investments, as their fossil fuel-driven empires pivot away from oil and coal.
Green hydrogen is central to this shift, as the two tycoons champion the government’s ambition to make India a global leader for production and exports of this fuel.
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