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Reliance Industries is aiming to become one of the largest producers of competitively priced ‘blue hydrogen’ in the world, Economic Times reports.

The conglomerate will be remodeling a plant worth $4 billion that currently converts petroleum coke into blue hydrogen. It costs about $1.2-$1.5 to produce one kilogram of the same.

Reliance views blue hydrogen as a temporary solution before the cost of manufacturing green hydrogen becomes competitive. The latter is made via the electrolysis of water by using renewable energy.

“In the interim, till cost of green hydrogen comes down, RIL can be the first mover to establish a hydrogen ecosystem, with minimal incremental investment, in India,” the company’s statement was quoted in a report by the aforementioned publication.

They added, “Subsequently, as hydrogen from syngas is replaced by green hydrogen, the entire syngas will be converted to chemicals.”

Reliance is looking to produce green hydrogen at $1 per kilogram by the end of 2030.

That is a cost cut of over 60 per cent from what it takes to produce the same quantity of the product presently.

Last month, Reliance had committed a future investment of $75 billion into the renewable energy infrastructure in India.