Clean energy, bio-energy and digital revolutions will transform lives: Mukesh Ambani
- RIL aims to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell to pack manufacturing facility by 2024, and to reach 50 GWh annual capacity by 2027
Clean energy, bio-energy, and the digital revolution will govern India’s growth, with the country poised to become a renewable energy power house, Reliance Industries Ltd (RIL) chairman Mukesh Ambani said on Tuesday.
Addressing students virtually during the 10th Convocation of Pandit Deendayal Energy University (PDEU), Gandhinagar, Mukesh Ambani, chairman of the oil-to-telecom conglomerate said, “Three game-changing revolutions will govern India’s growth in the decades ahead. The Clean Energy Revolution, the Bio-Energy Revolution and the Digital Revolution.“
This comes in the backdrop of RIL working on the raft of clean energy initiatives as it aims to become a net-zero carbon emissions company by 2035, aiding the national goal of net zero by 2070 set by Prime Minister Narendra Modi. RIL is pivoting to clean energy and announced a ₹75,000-crore push into green energy over three years in June last year, including plans to spend ₹60,000 crore on four giga factories for solar photovoltaic (PV) modules, electrolyzers, fuel cells and energy storage.
RIL aims to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell to pack manufacturing facility by 2024, and to reach 50 GWh annual capacity by 2027. The company also plans to transition to green hydrogen production by 2025, and to set up 20 GW of solar energy generation capacity by then.
“Together, they will transform lives in ways unimagined. While the Clean Energy Revolution and the Bio-Energy Revolution will produce energy sustainably, the Digital Revolution will enable us to consume energy efficiently,” Ambani said.
Ambani’s statement comes after the Prime Minister Narendra Modi at the G20 summit in Indonesia said that India is on track to achieve its target of generating 50% of its electricity from renewable sources by 2030. Also, India submitted its Long-Term Low Emission Development Strategy to the United Nations Framework Convention on Climate Change (UNFCCC) at COP 27; wherein renewable energy, e-mobility, ethanol blended fuels, and green hydrogen were announced as an alternate energy source.
Earlier this month, while addressing COP27, India’s environment minister Bhupendra Yadav pointed to Indian initiatives in renewable energy, e-mobility, ethanol blended fuels, green hydrogen and the International Solar Alliance as evidence of the country’s commitment.
Ambani said that the all three revolutions will together help India and the world save our beautiful planet from the climate crisis. He told the students to take advantage of today’s opportunities that are before them and expressed confidence that they would aim for meeting India’s energy goals.
India has an installed renewable energy capacity of 163 GW. The country is working on an ambitious plan to meet its commitment to net-zero carbon emissions by 2070, increasing non-fossil energy capacity to 500GW by 2030 and reducing the carbon intensity of its economy by 45% from the 2005 level. According to India’s apex power sector planning body Central Electricity Authority by 2030, the country’s power requirement would be 817GW, more than half of which would be clean energy.
“Think green. The clean energy movement is about adopting a green mindset. It is about being sensitive to mother nature. It is about inventing means to harvest its energy without harming it. Also, it is about ensuring that we leave behind a better and a healthier planet for the future generations,” RIL chairman said.
He also advised students to think digitally. “In your mission of making India a clean energy leader, digitisation will play the role of a force multiplier. Technologies such as AI, Robotics and IoT are powerful enablers of change. Use them to your advantage.”
Reliance Jio is the only telecom firm to buy the 700MHz airwaves during the recently held spectrum auctions, and is the first to launch 5G services in the country. Reliance Jio plans to invest Rs. 2 trillion to build the 5G network.
In clean energy, Reliance is working with companies, including Ambri in the US, Faradion in the UK and the Netherlands-based Lithium Werks, in the energy storage space. Similarly, Reliance invested in Germany’s NexWafe, a pioneer in next-gen technology to produce monocrystalline silicon wafers needed in making solar panels. The company also tied up with Denmark’s Stiesdal for its next-gen electrolyzer technology, which could potentially cut the cost of producing green hydrogen.
Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsIndustryEnergyClean energy, bio-energy and digital revolutions will transform lives: Mukesh Ambani
First Published:23 Nov 2022, 12:35 AM IST
- Top Gainers
- Top Losers
- 52 Week High