Reliance Industries Ltd RIL To Invest ₹75,000 Crore In Green Energy Initiative.
- ByStartupStory | June 25, 2021
At Reliance’s AGM meeting on Thursday, there were several key points to be taken away. However, the most promising was the fact that RIL to invest ₹75,000 crore in green energy initiatives over the next 3 years. Reliance’s core energy business is also to be altered focusing more on green energy. They will jointly work towards the “Green Vision ” plan. Mukesh Ambani said Reliance will create and offer a fully integrated, end-to-end renewables energy ecosystem. “Over the next three years, we will invest over Rs 60,000 crore in these initiatives,” he said during the 44th Annual General Meeting (AGM) of Reliance Industries Limited. “We will invest an additional Rs 15,000 crore in 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 three years,” Mukesh Ambani said.
“By implementing our Green Vision, Reliance will help transition India and the World from an Industrial Civilisation to an Ecological Civilisation. We are repaying our debt of gratitude to Mother Nature,” Mukesh Ambani said during the 44th Annual General Meeting (AGM) of Reliance Industries Limited (RIL).Ambani said Reliance has started work on developing the Dhirubhai Green Energy Giga Complex on 5,000 acres in Jamnagar. “It will be amongst the largest such integrated renewable energy manufacturing facilities in the world,” he said. “We plan to build four Giga factories to manufacture and integrate all critical components of the new energy ecosystem: solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory,” Ambani said. Mukesh Ambani also said that the company will transform its legacy energy business into a sustainable, circular and net-zero carbon materials business. “We will do this by repurposing our existing assets to extend their economic life and earning capacity, We will build two additional divisions to further strengthen this ecosystem. First, a dedicated Renewable Energy Project Management and Construction Division. Second, a dedicated Renewable Energy Project Finance Division,” he said.
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