Reliance Industries to invest ₹75,000 crore in "new clean energy business"

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• Jun 25, 2021 | moderator

Mumbai: Reliance Industries has declared an enthusiastic initial investment of Rs 75,000 crore over the next three years to develop a new clean energy business to fuel its pledge to be net carbon neutral by 2035.

In addition to all this, RIL will further infuse ₹ 15,000 crore in the value chain and future technologies which will further incorporate upstream and downstream industries.

The firm, which makes about 60% of revenue from its hydrocarbon-fuelled energy services, had last year set a point of displaying a net-zero carbon company by 2035 - a more precise period connected to the 2050 cutoff self-imposed by several of its global matches, including BP Plc and Royal Dutch Shell Plc.

This comes as energy giants around the world come under the influence to move towards a low-carbon future to assist enhance the atmosphere.

"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."

Reliance will manufacture solar manufacturing units, a battery industry for energy accommodation, a fuel cell-making industry, and an electrolyzer unit to generate green hydrogen as a portion of the business, Ambani stated.

Planning a roadmap of the mega plan, Ambani asserted, "Jamnagar was the cradle of our old energy business. Jamnagar will also be the cradle of our new energy business."

He also notified his stockholders of the RIL plans to create four Giga Factories to build and combine all important elements of the New Energy ecosystem – solar photovoltaic module industry, energy warehouse battery company, electrolyser industry, fuel cell plant.