Reliance Industries Seals $3 Billion Green Ammonia Deal with Samsung C&T

Reliance Secures Landmark Green Energy Deal

Reliance Industries Ltd. (RIL) is in focus after announcing a significant long-term agreement with South Korea's Samsung C&T Corporation. On March 16, 2026, the Indian conglomerate confirmed it had signed a binding Supply and Purchase Agreement (SPA) to supply green ammonia for a period of 15 years. This deal, valued at over $1 billion, marks a pivotal moment for RIL's new energy division and reinforces India's growing presence in the global clean energy supply chain. The announcement came after market hours on Monday, setting the stage for investor attention on Tuesday, March 17.

Key Details of the Agreement

The agreement is one of the largest binding long-term green ammonia offtake deals concluded globally. Under the terms, Reliance will begin supplying green ammonia to Samsung C&T in the second half of the financial year 2029. Green ammonia, produced by combining nitrogen with hydrogen generated from renewable electricity sources, is considered a key low-carbon fuel. It also serves as an efficient medium for transporting hydrogen, which is crucial for decarbonizing industries like power generation and manufacturing. The deal's structure provides long-term revenue visibility for RIL's new energy investments.

A Strategic Pillar for RIL's New Energy Business

This agreement is a cornerstone of Reliance's broader strategy to build a fully integrated new energy ecosystem. The company had previously announced plans in 2021 to invest $10 billion in renewable energy, green hydrogen, and battery storage. The partnership with Samsung C&T is the first major long-term offtake agreement for RIL's New Energy platform, validating its substantial capital expenditure in the sector. RIL is developing gigafactories for solar modules, battery energy storage systems, and electrolysers. This vertical integration aims to create an end-to-end value chain, from manufacturing clean energy equipment to producing green fuels for global markets.

Anant Ambani on India's Clean Energy Journey

Anant Ambani, Executive Director at Reliance Industries, highlighted the strategic importance of the partnership. He stated that the company is proud to partner with Samsung C&T to supply cost-competitive and reliable green ammonia. He described the agreement as an important step in India’s clean energy journey. Ambani emphasized that RIL's New Energy initiative is designed to advance the energy transition while building a strong industrial platform for India. This vision is anchored in the 'Make-in-India' framework, focusing on indigenising critical technologies like solar, battery storage, and electrolysers to leverage India's renewable resources and manufacturing capabilities.

National Significance and Global Impact

The deal aligns directly with the objectives of India’s National Green Hydrogen Mission (NGHM), which aims to establish the country as a global hub for the production and export of green hydrogen and its derivatives. By securing a major international customer, Reliance is helping to position India as a credible and significant exporter of green fuels. This move not only supports national energy security goals but also enhances India's role in the global effort to reduce carbon emissions. The scale of the agreement sets a new benchmark and is likely to encourage further investment in India's green hydrogen and ammonia production capacities.

Deal Summary

Market Response and Stock Performance

Following a period of underperformance, the announcement provided a positive trigger for Reliance Industries' stock. On Monday, March 16, RIL shares settled approximately 0.96% higher at ₹1,394 on the stock exchange. Despite this gain, the stock remains down about 12% for the year 2026 so far. Analysts view the deal as a critical step in de-risking the heavy investments made in the new energy vertical, providing a clearer path to future revenue streams and potentially improving investor sentiment.

What Lies Ahead for Reliance's Green Ambitions

Reliance has explicitly stated that the agreement with Samsung C&T is the "first in a series of long-term offtake partnerships" aimed at scaling its New Energy platform. Investors and market observers will be closely monitoring the progress of RIL's gigafactories and its green ammonia production facilities. Future announcements of similar offtake agreements will be key indicators of the company's success in executing its ambitious energy transition strategy. The successful implementation of this project will be crucial for establishing the commercial viability of large-scale green fuel production in India.

Conclusion

The $1 billion green ammonia deal between Reliance Industries and Samsung C&T is more than a commercial transaction; it is a strategic validation of RIL's pivot towards clean energy. It provides a significant revenue anchor for its new energy business, aligns with India's national green energy goals, and positions the company as a formidable player in the global energy transition. This landmark agreement marks a definitive step in RIL's journey from a traditional oil-to-chemicals giant to an integrated new energy powerhouse.