Reliance New Energy Solar Ltd. (RNESL), a subsidiary of RIL, and Denmark’s Stiesdal A/S have signed an agreement for the development and manufacture of Stiesdal’s hydrogen electrolysers in India.

“The new technology has the potential to deliver significant cost reduction thereby paving the way for rapid commercialisation of affordable green hydrogen,” RIL and Stiesdal said.

RNESL would also invest $29 million in NexWafe GmbH. “This will accelerate product development for NexWafe, including completion of the commercial development of NexWafe’s solar photovoltaic products in Freiburg,” NexWafe said in a statement.