Ambani, Asia’s richest man, announced plans earlier this month to invest $75 billion in renewables infrastructure including generation plants, solar panels and electrolyzers. There is growing speculation that the strategy entails transforming all of that clean power into hydrogen, one of the largest endorsements in the next-generation fuel.
Analysts say Reliance is likely to opt for hydrogen in a bid to avoid India’s wholesale electricity market, which is dominated by financially stressed utilities and plagued by delayed payments.
“Reliance is preparing itself to capture the entire value chain of the green hydrogen economy,” said Gagan Sidhu, director at the Centre for Energy Finance at New Delhi-based think tank CEEW. “They clearly have seen the writing on the wall.”
Green hydrogen — made from water and clean electricity — is seen…