RIL aims to disrupt clean energy business with Rs 75,000 cr investment plan

Reliance Industries Chairman Mukesh Ambani has announced a mega Rs 75,000 crore investment plan in clean energy over the next three years. He said RIL has started work on developing the Dhirubhai Ambani 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 added.

Elaborating on RIL's big clean energy plan, Ambani said the first part of the company's plan is to build "Four Giga Factories", which will manufacture and fully integrate all the critical components of the new energy ecosystem. These Giga factories will work in the areas of solar energy, intermittent energy, green hydrogen, and stationary power. Over the next 3 years, we will invest over Rs 60,000 crore in these initiatives.

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"For the production of solar energy, RIL will build an integrated solar photovoltaic module factory. For the storage of intermittent energy, RIL will build an advanced energy storage battery factory. For the production of green hydrogen, RIL will build an electrolyser factory. For converting hydrogen into motive and stationary power, RIL will build a fuel cell factory," the company said.

RIL's Jamnagar complex will provide infrastructure and utilities to manufacture ancillary material and equipment needed to support these Giga factories. The RIL chairman said the company will also support independent manufacturers with the right capabilities to be part of this nationwide ecosystem. "We will invest an additional 15,000 crore in the value chain, partnerships and future technologies, including upstream and downstream industries," he said.

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RIL's overall initial investment from its internal resources in the 'New Energy' business will be 75,000 (over $10 billion) crore in three years.

The company will also repurpose its engineering, project management and construction capabilities to deliver world-class, renewable energy solutions.

The company also plans to 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," said Ambani.

The Renewable Energy Project Management and Construction Division will provide gigawatt-scale end-to-end solutions for large renewable plants across the world. It will enable and partner with thousands of Green MSME Entrepreneurs, who can deploy kilowatt to megawatt-scale solutions in agriculture, industry, residences and transportation. The Renewable Energy Project Finance Division will provide financial solutions to the stakeholders in the ecosystem.

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