India’s richest man, Mukesh Ambani, is preparing to revolutionize the global industry by building four giant factories. All factories will produce goods for environmentally friendly business, most of all plans are prepared to develop hydrogen energy, writes Bloomberg.
Indian billionaire and main oil refining company Reliance Industries Ambani is set to spend $10 billion on zero-carbon equipment. India will build four huge factories to produce photovoltaic modules, batteries, fuel cells, and electrolyzers needed to produce hydrogen.
According to the businessman’s plan, the new factories will be able to supply hydrogen on a global scale to industries that are difficult to decarbonize, such as steel and cement production. Global greenhouse gas emissions from these two sectors have grown significantly since the middle of the last century. Steel mills doubled their emissions from 2000 to 2015, and pollution from cement production has increased 20-fold since 1950.
Eco-friendly hydrogen, for example, can replace coal, which is used in blast furnaces in steel plants. Moving away from fossil fuels in cement production is also perfectly acceptable. The increased demand for renewable energy sources, including hydrogen, Ambani believes, will stimulate their use in the generation of electricity.