Reliance Industries partners with Ambri to achieve net-zero carbon target by 2035
Ambri, a US-based energy storage solutions manufacturer, has signed a memorandum of understanding (MoU) with multinational conglomerate Reliance Industries to help the latter achieve its net-zero carbon targets.
Under the MoU, Reliance Industries will receive Ambri pilot system as part of its broader energy storage system manufacturing plans and implementation in India.
Reliance Industries is planning to establish 100GW of solar generation capacity and set up a giga-scale battery manufacturing unit in Jamnagar as part of the strategic partnership agreement signed between Reliance and Ambri last year.
Dan Leff — Ambri Executive Chair said: “Ambri is proud to further strengthen this longstanding relationship with one of our strategic investors to support the increased integration of renewable energy resources and energy storage into their facilities.”
Reliance Industries is targeting to reduce its carbon emissions to net-zero by 2035 and has committed to invest over $10 billion to secure reliable, clean, and affordable energy by exploiting hydrogen, wind, solar, fuel cells, and batteries at their own facilities.
Sanjay Mashruwala — Reliance New Energy Director said: “This memorandum of understanding paves the way for us to engage in discussions for testing and installation of Ambri’s demo installation at Jamnagar, India and further progress our joint development work to set up large scale manufacturing of Ambri systems in India.”
The Ambri pilot system is expected to be commissioned in mid-2023.
In August 2021, Reliance New Energy Solar, a wholly owned subsidiary of Reliance Industries invested $50 million to acquire 42.3 million shares of preferred stock in Ambri.