Reliance Industries Ltd. has secured a landmark $3 billion deal with South Korea’s Samsung C&T Corp. to supply green ammonia, marking a significant milestone in billionaire Mukesh Ambani’s pivot towards renewable energy.
The binding, long-term supply and purchase agreement spans a 15-year period, with deliveries slated to commence in the second half of the fiscal year ending March 2029. The Reliance-Samsung deal, one of the largest of its kind globally, signals India’s emergence as a major exporter of green fuels and underscores Reliance’s ambition to dominate the clean energy value chain.
“This partnership marks an important step in India’s clean-energy journey,” said Anant Ambani, executive director of Reliance Industries. He noted that the initiative aims to integrate India’s renewable resources with manufacturing leadership to produce value-added chemicals at scale.
The partnership is the first in a series of anticipated off-take agreements intended to scale Reliance’s nascent New Energy platform. By securing an international buyer like Samsung C&T, Reliance is validating its massive capital expenditure in “green” molecules, which are produced using renewable electricity rather than 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 has been aggressively expanding its footprint in renewable energy projects, including Solar PV and Energy Storage Systems (ESS), as North Asian economies look to decarbonise their heavy industries and shipping sectors.
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 hub is designed to house “gigafactories” for solar modules, batteries, electrolysers, and fuel cells.
Unlike many global competitors that rely on imported components, Reliance is pursuing a strategy of deep indigenisation. The company is developing an “end-to-end” value chain that includes domestic manufacturing of critical clean-energy equipment, a move aligned with the government’s National Green Hydrogen Mission.
“At the heart of this vision is our commitment to indigenising the critical technologies of the energy transition—Solar, Battery Energy Storage Systems, and Electrolysers—under a strong Make-in-India framework,” Ambani said.
The $3 billion Reliance-Samsung deal provides a clear revenue roadmap for Reliance’s new energy unit as it works toward 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 INR 81,309 crore ($9.5 billion) for the year ended March 31, 2025.
