Reliance Will Invest Rs 75,000 Crores Towards Its Green Vision Plan: Mukesh Ambani

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Reliance India Limited (RIL) chairman and managing director Mukesh Ambani announced the telecom company’s green energy initiatives and said it will invest Rs 75,000 crore in the next three years towards the “Green Vision” plan.

It will invest ₹ 60,000 crores in its new green energy business during the course, under which it will set up four units called ‘Giga factories’ in Gujarat Jamnagar. In addition to all this, RIL will further infuse ₹ 15,000 crores in the value chain and future technologies which will also include upstream and downstream industries, as reported by NDTV.

Mukesh Ambai said that the Giga factories will manufacture as well as fully incorporate all components of the green energy ecosystem. The first part of the plan is to build four giga factories.

“One, for the production of solar energy — we will build an integrated solar photovoltaic module factory. Two, for the storage of intermittent energy — we will build an advanced energy storage battery factory. Three, for the production of green hydrogen — we will build an electrolyzer factory. Four, for converting hydrogen into motive and stationary power — we will build a fuel cell factory,” Ambani said, adding that Reliance will establish at least 100GW of solar energy by 2030.

Also, Read This: Reliance Jio Collaborating With Qualcomm To Make Critical 5G Equipment In India

The entire green energy infrastructure will set up on a 5,000 acres area in Jamnagar and will be known as Dhirubhai Ambani Green Energy Giga Complex. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world

Mukesh Ambani said that Jamnagar was the cradle of RIL’s old energy business and now it will be a cradle for their new green energy business. In 2020 the RIL chairman had announced the company’s 15-year commitment to become net carbon zero.

The move will bring RIL into direct competition with the Adani group. Adani Solar has 3.5 Gw of annual solar photovoltaic production capacity while Adani Green Energy has a portfolio of 25 Gw of commissioned and under-construction projects.

India imports close to 90 percent of its solar cells and module requirements. Eighty percent of this is from China. According to the industry data, India has 3,100 Mw of cell manufacturing capacity and 9,000 Mw of module manufacturing.

Also, Read This: Reliance Jio To Construct World’s Largest Submarine Cable System

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