By deciding to go green, Reliance Industries Ltd chairperson, Mukesh Ambani has joined the list of industrialists like Ratan Tata, Gautam Adani and Tesla founder Elon Musk.
At the 44th Annual General Meeting of Reliance Industries Limited on Thursday, the conglomerate’s chairperson Mukesh Ambani announced they would be building four giga factories as part of the environment-friendly initiatives with an initial investment of Rs 75,000 crore for the next three years.
“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 right capabilities to be part of this nationwide ecosystem," Ambani said. Experts opined that the move will help RIL make the most of emerging green energy business and make its business future-proof.
He made three affirmations. “First, as one of the biggest energy markets in the world, India will play a leading role in transforming the global energy landscape. Second, as a company always focused on growing businesses of the future, Reliance will provide leadership on the combined strength of our balance-sheet, talent, technology and proven project execution capabilities. Third, Reliance will make its New Energy business a truly global business," he said.
RIL is creating a coalition of partnerships with leading global universities, best technology companies and most promising start-ups in America, Europe, Australia and Asia.
RIL targets to achieve costs that are lowest in the world to ensure affordability of solar modules. “Reliance will establish and enable at least 100GW of solar energy by 2030. A significant part of this will come from rooftop solar and decentralised solar installations in villages. These will bring enormous benefits and prosperity to rural India," said Ambani.
RIL is exploring new and advanced electro-chemical technologies that can be used for such large-scale grid batteries to store the energy that will be created.