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Wednesday, January 26, 2022
HomeBusinessRIL signs MoU for investment of crores in green projects in Gujarat

RIL signs MoU for investment of crores in green projects in Gujarat

Digital Desk: Reliance Industries Limited (RIL) has signed an MoU today with the Gujarat government for a complete investment of Rs 5.955 lakh crore as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022.

These green projects will form 10 lakh direct/indirect employment opportunities in the state. In addition, these projects will make the state net-zero and carbon-free. 

RIL proposes to invest Rs 5 lakh crore in the state over 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. 

Moreover, RIL will create an eco-system for aiding Small and Medium Enterprises (SMEs) and promote entrepreneurs to adopt the latest technologies and innovations, leading to captive usage of Renewable Energy and Green Hydrogen. 

This initiative has been encouraged by the vision of Hon’ble Prime Minister Shri Narendra Modi. 

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The industry will invest another Rs 60,000 crore in establishing New Energy Manufacturing-Integrated Renewable Manufacturing: Solar PV Module (manufacture of Polysilicon, wafer, cell & module); Electrolyzer; Energy-storage Battery; and Fuel Cells. 

RIL will make additional Rs 25,000 crore investments in existing schemes and new undertakings over 3 to 5 years. RIL has also offered to fund Rs 7,500 crore over 3 to 5 years for Jio Network upgradation to 5G and another Rs 3,000 crore over 5 years in Reliance Retail

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