RIL will also set up a platform for renewable energy project finance to source long-term global capital for investment in these sectors.
June 25, 2021
Reliance Industries Limited’s Chairman Mukesh Ambani has announced that the RIL will invest INR 75000 crore in a new green and clean energy business over the next three years.
The company is planning to get into solar power generation and manufacturing, hydrogen production, e-fuels, and energy storage under its “New Energy and New Materials” division.
According to the media reports — under the plan, RIL will set up a Dhirubhai Ambani Green Energy Giga Complex, spanning 5,000 acres, in Jamnagar, Gujarat. It plans to invest over INR 60000 crore in the renewable energy business in the next three years which includes setting up 4 giga factories near Jamnagar. The company will further invest another INR 15000 crore to provide infrastructure and utilities to manufacturing ancillary materials and equipment needed to support the factories.
Also Read: Adani Group to Add 5 GW Green Energy a Year for the Next Decade.
RIL will create a capacity of producing solar power of 100GW in 10 years. The ambition is stunning as India’s installed capacity of solar power is now 40GW (including ground-mounted and rooftop).
