The complex is expected to be one of the largest clean energy manufacturing facilities in the world.
Reliance Industries Ltd (RIL) announced plans to commission a new energy complex in Gujarat during the second half of 2024, in its post-third-quarter-profit call. The development of Dhirubhai Ambani Green Energy Giga Complex is progressing as estimated and new energy facilities will be launched in phases throughout the year.
The complex spans 5,000-acre complex in Jamnagar and will have five major factories for the production of photovoltaic panels, fuel cell systems, green hydrogen, energy storage, and power electronics. The complex is expected to be one of the largest clean energy manufacturing facilities in the world. The first 5 gigawatts module manufacturing capacity is expected to be operational by the middle of 2024.
Expressing confidence in the complex, RIL expects the complex to become a key player in the global shift towards cleaner fuels. RIL chairman and managing director Mukesh Ambani said “New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance’s New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels.”
The complex is part of Reliance’s commitment to generate 100 gigawatts of renewable power in Gujarat with an investment of Rs 5 lakh crore. The company has also secured approval for around 74,750 hectares of land in Kutch for green hydrogen production. RIL has invested in ten global technology innovators specializing in the new energy value chain.
RIL, through REC Solar, has signed a supply pact with Suzhou Maxwell Technologies, a company, based in China, to buy a high efficiency production line for heterojunction transistor (HJT) cells with 4.8GW capacity. It also signed a 5.2GW HJT module automation production pact with China-based SC Solar, last year.
RIL recorded a 10.9% increase in its consolidated Profit After Tax (PAT) during the October-December 2023 quarter, reaching ₹19,641 crore. The quarterly Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹44,678 crore, marking a 16.7% YoY increase.