Reliance to invest Rs 75,000 crore in renewable energy ecosystem, build 4 Giga factories
Reliance Industries Limited, at its annual general meeting, announced its foray into the clean energy space in India. The company's chairman, Mukesh Ambani, announced a Rs 75,000 crore investment over the next three years towards developing an end-to-end, renewable energy ecosystem.
The first step towards this goal will be the setting up of four Giga Factories through a Rs 60,000 crore investment. One of these will be an integrated solar photovoltaic module factory while the second will be an advanced energy storage battery factory. The third will be an electrolyser factory for the production of green hydrogen while the fourth will be a fuel cell factory focussed on converting hydrogen into motive and stationary power
Reliance will invest an additional Rs 15,000 crore in the value chain, partnerships and future technologies, including upstream and downstream industries. Mukesh Ambani added, "We will also provide infrastructure and materials to support the four Giga factories. Our Jamnagar complex will provide infrastructure and utilities to manufacture ancillary material and equipment needed to support these Giga factories so that all critical materials are available in time. We will also support independent manufacturers with the right capabilities to be part of this nationwide ecosystem."
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