RNESL Signs Agreement With Denmark’s Stiesdal On Green Hydrogen Technology Development

| Updated: October 13, 2021 7:23 pm

Reliance New Energy Solar Ltd. (RNESL) – a wholly-owned subsidiary of Reliance Industries Ltd. (RIL) has signed an agreement with Denmark-based Stiesdal (Stiesdal) to manufacture hydrogen electrolyzers. Stiesdal is a Danish company that is engaged in developing and commercialising technologies on climate change mitigation. 

RNESL has been awarded the license for this through a “cooperation agreement”, it said in a regulatory filing. 

Speaking after signing of the agreement, Mr. Mukesh Ambani said, “We at Reliance  see this cooperation agreement with Stiesdal as yet another opportunity to implement  our philosophy of “Caring for the Planet” and “Caring for the People”. It is an important  step towards fulfilling our commitment to accelerate India’s transition to green energy  benefitting from our vast solar energy sources and scaling up innovative and leading  technologies to meet this objective. We aim to leverage Stiesdal’s impressive portfolio  of climate technologies to serve India market and work together to make this portfolio  a global pace setter. In partnership with Stiesdal, we will strive to achieve our stated  goal of offering Hydrogen energy under $1 per kg in 1 decade – the 1-1-1 target for  Green Hydrogen. Reliance is committed to making the greatest contribution to the  National Hydrogen Mission announced by our Hon’ble Prime Minister Mr Narendra  Modi on Independence Day this year. Our vision is to put India on global hydrogen  map and fulfil the developmental aspirations of 1.35 billion Indians.” 

Mr. Hital Meswani, Executive Director of Reliance Industries, said, “Reliance is committed to realising its stated ambitions in new energy and accelerating the technology development and scale-up of world-leading technologies. We welcome  Stiesdal as our partner and look forward to working together to achieve our goals.” 

Mr. Henrik Stiesdal, CEO of Stiesdal A/S, said, “We are excited to enter into this agreement with Reliance New Energy Solar Limited, the New Energy platform of India’s largest industrial company. As a company, we are committed to the fight against climate change, seeking to deliver the largest possible impact in the shortest possible time. For us, there could be no greater impact than seeing our technology scaled up for use in the world’s largest democracy. Production of low-cost hydrogen is a vital strategic element of the green transition in India and the world, and Reliance  Industries have the reach and capability to ramp up electrolyzer production to the required levels. 

We are very much looking forward to developing and expanding our cooperation with  Reliance New Energy Solar Limited, not only within the field of hydrogen production but also within the fields of our other climate technologies.” 

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