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Business News/ News / India/  Mukesh Ambani's top 5 announcements on RIL's new energy business

Last year, Mukesh Ambani had announced setting up of Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to establish four Giga Factories, and at Reliance Industries' 45th Annual General Meeting (AGM) on Monday, its chairman and managing director announced its new Giga Factory for Power Electronics.

“The sheer magnitude of this responsibility and opportunity has made our New Energy business far more ambitious, far more transformational, and far more global in scope than anything Reliance has ever done before," said Ambani.

Along with announcing the plan to set up new Giga Factory for Power Electronics, Ambani further announced that for solar PV manufacturing, RIL acquired REC Solar, and its 10GW solar PV cell and module factory at Jamnagar, based on REC technology, will commence production by 2024 and scale up to 20GW capacity by 2026.

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 further scale up to 50 GWh annual capacity by 2027.

Ambani said that the company aims to progressively commence transition from Grey Hydrogen to Green Hydrogen by 2025, after proving its cost and performance targets. It has partnered with Stiesdal to accelerate cost reduction and commercialisation of their Pressurised Alkaline Electrolyzer technology.

Reliance is actively working on bio-energy and has inaugurated Phase I of its Bio-Energy Technology (BET) Centre at Jamnagar on August 15, 2022.

“Our New Energy business will help India become a net exporter of green energy. Most importantly, Reliance aspires to make India a world leader in new energy manufacturing and a credible alternative to China," he added.

The Indian conglomerate has committed to a Net Carbon Zero emission goal by 2035 and its New Energy proposition is key to achieving this. Pivoting Reliance into green energy, Ambani had announced last year announced that the company will be investing $80 billion over the next 10-15 years on renewable energy and building a new complex next to its refinery.

RIL began work on the four Giga-factories at Dhirubhai Ambani Green Energy Giga Complex to set up world-scale production capacity for solar panels, energy storage systems, electrolysers and fuel cells spread over 5,000 acres in Jamnagar. RIL has committed to scale up investments in the green energy initiative to play a leading role in the world's transition to clean energy.


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Updated: 29 Aug 2022, 04:07 PM IST
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