Reliance Industries (RIL) Chairman Mukesh Ambani on Thursday announced that the company will invest Rs 75,000 crore in clean energy business over the next three years.

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Addressing the 44th Annual General Meeting (AGM) of shareholders, he said that RIL was launching the new energy business with the aim of bridging the green energy divide in India and globally.

He highlighted that India will play a leading role in transforming the global energy landscape.

“We will transform our legacy business into sustainable, circular and net-zero carbon materials business,” said Ambani.

Also Read: Jamnagar: Once cradle to RIL's old energy business, will now host new energy ventures

Ambani added that Reliance will set up 100 GW of solar power generating capacity by 2030.

"We plan to build four Giga factories to manufacture and integrate all critical components of new energy ecosystem solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory," Ambani said. These four factories will involve an investment of Rs 60,000 crore.

"We will invest an additional Rs 15,000 crore in the value chain, partnerships and future technologies, including upstream and downstream industries. Thus, our overall investment in the new energy business will be Rs 75,000 crore in 3 years," he said.

He further said that the company plans to build two additional divisions to further strengthen green energy ecosystem; first, a dedicated Renewable Energy Project Management and Construction Division. Second, a dedicated Renewable Energy Project Finance Division.

The RIL Chairman also shared the company's plan of developing the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world, he said.

"Jamnagar complex will provide infrastructure and utilities to manufacture ancillary material and equipment needed to support Giga factories," Ambani said.

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(Edited by : Aditi Gautam)

First Published:Jun 24, 2021 3:19 PM IST