Reliance Forays Into Green Energy Space, Plans Rs 75,000 Crore Investment For 4 Gigafactories 

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The billionaire added while addressing an annual shareholder meeting that the conglomerate will set up 100 GW of solar power generating capacity

Reliance Industries Ltd Chairman and Managing Director Mukesh Ambani has announced that Reliance will be investing Rs 75,000 crore in setting up four gigafactories to make renewable energy equipment like solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years. 

The billionaire added while addressing an annual shareholder meeting that the conglomerate will set up 100 GW of solar power generating capacity.

“We plan to build four gigafactories to manufacture and integrate all critical components of new energy ecosystem. For the production of solar energy, we will build an integrated solar photovoltaic module factory. For the storage of intermittent energy, we will build an advanced energy storage battery factory. For the production of green hydrogen, we will build an electrolyser factory. Four, for converting hydrogen into motive and stationary power we will build a fuel cell factory,” Ambani said.

While the four factories will involve an investment of Rs 60,000 crore, an additional Rs 15,000 crore will be invested in the value chain, partnerships and future technologies, including upstream and downstream industries, Ambani added.

These factories will be built as a part of the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar, Gujarat. “It will be among the largest such integrated renewable energy manufacturing facilities in the world,” Ambani added.

“Reliance will put Gujarat and India on the world solar and hydrogen map. All our products will proudly proclaim: Made in India, by India, for India and for the world! This will be Reliance’s yet another big contribution to our prime minister’s clarion call of Atmanirbhar Bharat,” he said.

Last year, Ambani had announced a 15-year commitment to become net carbon zero by 2035.

“In 2016, we launched Jio with the aim of bridging the Digital Divide in India. Now, in 2021, we are launching our new energy business with the aim of bridging the green energy divide in India and globally,” he added.

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