India is projected to export an estimated $500 billion worth of green energy by 2042, Bloomberg reported, citing chairman of Reliance Industries, Mukesh Ambani, reports ARAB NEWS.
“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.
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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.
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Accordingly, Reliance Industries is repurposing one of its plants to generate blue hydrogen at $1.2 to $1.5 per kilogram.