Reliance chairman Mukesh Ambani on Thursday announced a Rs 75,000 crore investment in setting up four Giga factories to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.
Addressing the 44th Annual General Meeting (AGM) of shareholders, he said that RIL was launching the new energy business with the aim of bridging the green energy divide in India and globally. He also highlighted that India will play a leading role in transforming the global energy landscape.
Under the plan, it will build four giga-factories to make and integrate all critical components of the new energy ecosystem:
- Solar photovoltaic modules.
- Fuel cells.
“We will transform our legacy business into sustainable, circular and net-zero carbon materials business,” also Reliance will set up 100 GW of solar power generating capacity by 2030 , said Ambani .Mukesh ambani also shared the company’s plan of developing the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world, he said.
Other focus From RIL’s New Business Plan:
- To enable at least 100 gigawatt of solar energy by 2030.
- Invest in carbon fibre plants for supporting our hydrogen and solar ecosystems.
- To use solar energy to decarbonize O2C business.
- To use green hydrogen—generated from renewable sources—and CO2 as raw materials to develop a road map for new green chemicals, green fertilizer and e-fuels.
- To transform legacy business to net-zero carbon operations.
- To build two additional divisions to strengthen this ecosystem—a dedicated Renewable Energy.
- Project Management and Construction Division, and a dedicated Renewable Energy Project Finance Division.