Business News / Ambani-Adani will face each other, this matter is worth 19900 crores

Vikrant Shekhawat : Dec 16, 2023, 06:00 PM
Business News: Reliance Industries and Adani Enterprises i.e. Mukesh Ambani and Gautam Adani will be seen face to face in the coming days. The central government has made a big plan to promote the use of green hydrogen in the country. Both these groups have shown interest in it and are among the 21 companies that have bid for it. In fact, the Government of India is giving production-linked grants to make electrolyzers within the country. This is part of Prime Minister Narendra Modi's energy transition goal. Mukesh Ambani's Reliance Industries and Gautam Adani's Adani Enterprises have placed their bids for this.

Gautam Adani's biggest bid

Solar Energy Corp of India said in a statement that apart from Reliance and Adani, Ohmium Operations, John-Cockerill Greenco, Vari Energies Limited and Bharat Heavy Electricals Limited are also interested in manufacturing electrolyzers in the country.

Electrolyzers are used in the production of green hydrogen. With its help, hydrogen is produced by breaking water (H2O) molecules. It is a source of renewable energy and is very beneficial for the environment. Adani has made the biggest bid for making electrolyzers. It will make electrolysers of 600 MW capacity, about half of which will be made with local technology.

The matter is worth Rs 19,900 crore

The Government of India has set a target of annual production of 50 lakh tonnes of green hydrogen in the country by 2030. Adani Group is making the maximum investment in the green hydrogen sector in the country. Green hydrogen oil can be used as fuel in heavy industries like refineries, fertilizer plants, steel industry and shipping, which will help in significantly reducing carbon emissions.

14 companies have placed bids for another incentive related to green hydrogen. This includes Reliance, Adani, Avada Group, Torrent Power and Sembcorp Industries. The Indian government is going to give a grant of 2.4 billion dollars (about Rs 19,930 crore) for the production of green hydrogen and electrolysers.

SUBSCRIBE TO OUR NEWSLETTER