India is projected to export an estimated $500 billion worth of green energy by 2042, Bloomberg reported, citing chairman of Reliance Industries, Mukesh Ambani.
“India will emerge as a global new energy leader,” Bloomberg reported, citing Ambani.
The technicalities on how this will be achieved is yet to be disclosed.
However, the South Asian country is dependent on businessmen such as Ambani to help it achieve net zero by 2070.
Ambani’s multinational conglomerate, Reliance Industries Ltd., plans to invest a total of $76 billion in clean energy projects over the coming years.
“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,” Ambani said.
Accordingly, Reliance Industries is repurposing one of its plants to generate blue hydrogen at $1.2 to $1.5 per kilogram.