Reliance to scale up clean energy initiatives, will make it accessible, affordable: Mukesh Ambani in annual report

Reliance Industries Ltd in its annual report stated that the company, under its new energy vertical, has set out on an ambitious journey and wants to make clean energy available to all by making it more accessible and affordable.

"Our New Energy business is far more ambitious, far more transformational, and far more global in scope than anything we have ever done before. We firmly believe that as one of the biggest energy markets in the world, India will play a leading role in transforming the global energy landscape," RIL CMD Mukesh Ambani said in the FY24 annual report.

The annual report further stated the company has formulated new energy business plans that would be in sync with the global movement for the adoption of cleaner fuels.

Reliance is also exploring several technologies to capture and recycle carbon.

“As we work towards our goal of attaining Net Carbon Zero by the year 2035, the development of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar is progressing rapidly. This giga complex will be one of the largest end-to-end integrated renewable energy manufacturing facilities globally,” he said.

Regarding reducing carbon footprint, the company said it is trying to maximise RE generation at an optimal cost so as to increase Netbacks for RE.

"Our aim is to maximise RE generation at an optimal cost so as to increase Netbacks for RE. We target to set up integrated RE Plant with optimal configuration. Green H2 (GH2), Green Chemicals and Energy Storage to maximise value addition and hence Netbacks for RE. Cost competitive manufacturing is critical for above, which we aim to achieve by global partnerships, technological innovations, and supply chain optimisation and local value addition," the company said.

Other highlights:

> Reliance is accelerating the commercialization of its sodium ion battery technology. With plans to industrialise sodium ion cell production at a megawatt level by 2025, the Company intends to rapidlytransition to a giga scale.

> Reliance made notable progress in cost‑competitive green hydrogen production by reducing the cost of renewable power generation and the installed cost of electrolysers for gigascale deployment.

> According to the Net Carbon Zero transition plan explained in the Annual Report, 20GW of solar capacity for captive needs of round-the-clock power and intermittent energy for Green Hydrogen will be established by 2025

> This will also enable RIL’s transition from Grey Hydrogen to Green Hydrogen.

> By 2026, the Jamnagar PV factory will be scaled up to 20GW in a phased manner and a comprehensive battery giga factory will be ready.

> By 2027, the cell-to-pack manufacturing facility will be expanded to 50GWh per annum.

> By 2030, 100GW of renewable energy capacity will be established and enabled.

> The Company has also made advancements in two critical aspects for delivering cost-competitive green hydrogen and its derivatives: cost of renewable power generation, and installed cost of electrolyser for giga-scaledeployment
Reliance has commenced work on setting up renewable energy generation complex and has been allotted land in Gujrat. RIL aims to become the largest RE Developer in India.

> RIL initiated participation in RE PPA with the first PPA signed with MSEDCL for 128 MW for 25 years.
50 MWh per year capacity pilot line has been setup for manufacturing Li Battery cells, through Lithium Werks, and can be scaled up for commercialscale production.

> Reliance signed an MOU with the Government of Maharashtra for 100 kTPA GH2 production, with a total projected investment of ~C 15,000 crore and employment generation of~4,000 (direct and indirect).