On Monday, India’s Reliance Industries said it had signed an agreement with Samsung C&T, affiliated with South Korea’s Samsung Group, to supply green ammonia for 15 years, with the total value exceeding $3 billion.
The supply will begin in the second half of 2029, the Indian conglomerate said in an exchange filing. This deal is one of the biggest long-term green ammonia offtake agreements ever and comes as countries, including Japan and South Korea, seek low-carbon energy sources, such as hydrogen and ammonia, to cut emissions from industry and power generation.
Reliance mentioned that they are building a clean-energy manufacturing ecosystem that includes battery energy storage systems, solar modules, and electrolysers. It’s worth noting that Green Ammonia is produced by combining nitrogen with hydrogen, which is made using renewable electricity, and is seen as a low- carbon energy source and a cleaner way to transport hydrogen.
The company mentioned that alliances like the Samsung agreement would support the growth of its green hydrogen ecosystem and manufacturing installations. In 2021, Reliance unveiled plans to invest $ 10 billion in renewable energy, hydrogen, and battery storage as it seeks to expand beyond its traditional oil-to-chemicals business.
