RIL to invest Rs5.95 lakh cr in green energy projects

PTI

New Delhi, January 13

Billionaire Mukesh Ambani-led Reliance Industries will invest Rs 5.95 lakh crore in green energy and other projects in Gujarat over the next 10-15 years as it looks to accelerate the clean energy business by building giga-factories.

The conglomerate will invest Rs 5 lakh crore in the state to set up 100 gigawatts (GW) renewable energy power plant and green hydrogen ecosystem development, the firm said.

Accelerating clean energy business

• The oil-to-telecom conglomerate will invest Rs5 lakh crore in the state to set up 100 GW renewable energy power plant and green hydrogen ecosystem development
• It will invest another Rs60,000 crore in setting up four giga-factories for manufacturing solar PV module, electrolysers used for hydrogen generation, energy-storage batteries and fuel cells
• Further, Rs25,000-crore investment will be made in existing projects and new ventures over the next 3-5 years

It will invest another Rs 60,000 crore in setting up four giga-factories for manufacturing solar PV module, electrolysers used for hydrogen generation, energy-storage batteries and fuel cells.

Further, Rs 25,000-crore investment will be made in existing projects and new ventures over the next 3-5 years.

RIL has also proposed to invest Rs 7,500 crore over 3-5 years for Jio Network upgrade to 5G and another Rs 3,000 crore over 5 years in Reliance Retail, it said.

“RIL signed MoU today with the Government of Gujarat for a total investment of Rs 5.95 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the state,” the firm said.

In consultation with the Gujarat government, the company has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company is seeking 4.5 lakh acres in Kutch. —