In a move that marks a turning point for India’s renewable energy sector, Reliance Industries Limited (RIL) officially signed a $3 billion+ binding long-term Supply and Purchase Agreement (SPA) with South Korea’s Samsung C&T Corporation on March 16, 2026. The 15-year contract positions Reliance as a major global supplier of green fuels and underscores India’s growing role in the international hydrogen economy.
Key Terms of the Agreement
The deal represents one of the largest binding long-term green ammonia offtake agreements ever signed globally.
- Contract Value: Exceeds $3 billion (approx. ₹27,000 crore).
- Tenure: 15 years of guaranteed supply.
- Commencement: Deliveries are scheduled to begin in the second half of FY2029.
- Offtake Partner: Samsung C&T’s Trading & Investment Division, which will supply the fuel to its global industrial customers looking to decarbonize.
The “Jio Playbook” for Energy
Market analysts have noted that Reliance is replicating its telecommunications strategy—owning the entire “stack” to drive down costs. The green ammonia will be produced at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat.
Unlike competitors who may import components, Reliance is pursuing a strategy of deep indigenization:
- Solar Modules: Generating the renewable power required for electrolysis.
- Electrolysers: Splitting water to produce green hydrogen.
- BESS (Battery Energy Storage): Ensuring 24/7 renewable power supply to the production plant.
- Ammonia Synthesis: Converting hydrogen into shippable green ammonia.
Strategic and Geopolitical Significance
The partnership is a cornerstone of India’s National Green Hydrogen Mission, which aims to produce 5 million tonnes of green hydrogen by 2030.
“This partnership marks an important step in India’s clean-energy journey… helping scale our green hydrogen ecosystem and gigafactories,” said Anant Ambani, Executive Director of RIL.
Furthermore, the deal provides a hedge against regional instability. Amid the ongoing US-Iran conflict, establishing a reliable clean-energy export corridor from India offers North Asian economies a lower-risk alternative to traditional fuel routes through the Strait of Hormuz.
Financial Outlook
Following the announcement, Reliance shares saw a modest gain of 0.37% as investors factored in the long-term execution timeline. By securing a $3 billion pre-order before the Jamnagar facility is fully operational, RIL has significantly de-risked its massive capital expenditure in the New Energy segment, providing a clear revenue roadmap toward its Net Carbon Zero 2035 goal.
