Reliance Industries Ltd has secured a historic $3 billion deal with South Korea’s Samsung C&T Corp to supply green ammonia, a significant milestone in billionaire Mukesh Ambani’s push towards renewable energy.
The binding, long-term supply and purchase agreement is for a period of 15 years, with deliveries scheduled to commence in the second half of the financial year ending March 2029. The Reliance-Samsung deal, the largest of its kind globally, signals India’s emergence as a major exporter of green fuels and underlines Reliance’s ambition to dominate the clean energy value chain.
Anant Ambani, executive director of Reliance Industries, said, “This partnership is an important step in India’s clean-energy journey.” He said the initiative aims to integrate India’s renewable resources with manufacturing leadership to produce value-added chemicals on a large scale.
Reliance-Samsung deal: A new benchmark?
The partnership is the first in a series of anticipated off-take agreements aimed at enhancing Reliance’s budding new energy platform. By securing an international buyer like Samsung C&T, Reliance is validating its big capital expenditure in “green” molecules, produced using renewable electricity instead of fossil fuels.
For Samsung C&T, a global trading and investment powerhouse founded in 1938, the deal secures a reliable, long-term source of carbon-free fuel. The South Korean firm is aggressively expanding its footprint in renewable energy projects, including solar PV and energy storage systems (ESS), as North Asian economies look to decarbonize their heavy industries and shipping sectors.
giga complex strategy
Central to Reliance’s ability to execute this $3 billion contract is the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat. The 5,000-acre advanced manufacturing center is designed to house “gigafactories” for solar modules, batteries, electrolyzers and fuel cells.
Unlike many global competitors that depend on imported components, Reliance is pursuing a strategy of intensive indigenization. The company is developing an “end-to-end” value chain that includes domestic manufacturing of critical clean-energy equipment, a move in line with the government’s National Green Hydrogen Mission.
“At the heart of this vision is our commitment to indigenize critical technologies of the energy transition – solar, battery energy storage systems and electrolysers – under a strong Make-in-India framework,” Ambani said.
Net-zero ambition
The $3 billion Reliance-Samsung deal provides a clear revenue roadmap for Reliance’s new energy unit as it works towards the company’s broader goal of reaching net-carbon zero by 2035.
Reliance, India’s largest private sector company by revenue, reported a net profit of Rs 81,309 crore ($9.5 billion) for the year ending March 31, 2025.