RIL to invest INR 75,000 cr in renewable energy business
RIL plans to invest INR 75,000 to set up Giga manufacturing units that will incorporate all important components for the new energy ecosystem, including solar photovoltaic module factories, energy storage battery factories, electrolyser factories, and fuel cell factories.
Mukesh Ambani announced his plans to launch a new clean energy business at Reliance Industries’ 44th Annual General Meeting, with the goal of bridging the green energy divide in India and globally.
Over the next three years, RIL will invest INR 75,000 crore in a new green and clean energy business, according to Ambani.
He also informed stakeholders about the commencement of construction on the Dhirubhai Ambani Green Energy Giga Complex, which will span 5,000 acres in Jamnagar, Gujarat.
“We have started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world,” he said.
“Jamnagar was the cradle of our old energy industry, and Jamnagar will also be the cradle of our new energy business,” Ambani said, sketching a blueprint for the huge project.
RIL plans to build four Giga Factories to manufacture and integrate all critical components of the New Energy ecosystem, including solar photovoltaic module factories, energy storage battery factories, electrolyser factories, and fuel cell factories, he told his shareholders.
Ambani further stated that over the next three years, the RIL will invest over INR 60,000 crore toward the development of a fully integrated, end-to-end renewables energy eco-system.
Also, an additional investment of INR 15,000 crore has been planned in the value chain, collaborations, and future technologies, including upstream and downstream industries, he added.
“New Energy and New Materials are not merely another business for us. It is our mission to heal the environment. It is an expression of Reliance’s commitment that WE CARE for our beautiful and bountiful planet. By implementing our Green Vision, Reliance will help transition India and the World from an industrial civilisation to an ecological civilisation. We are repaying our debt of gratitude to Mother Nature,” said Ambani.
“The age of fossil fuels, which has fueled global economic expansion for nearly three centuries, is over,” he stated.
Last year RIL has announced a 15-year goal of becoming carbon-neutral by 2035. Taking it a step further he announced during the 44th AGM that Reliance plans to install 100 GW of solar energy by 2030.
