Reliance Industries chairman Mukesh Ambani expects RIL’s green energy segment to emerge as the major growth engine for the conglomerate, which could potentially help India have the world’s most affordable green energy within this decade. In his message to the shareholders in the company’s annual report for 2021-22, Mukesh Ambani said, “Just as India has the world’s most affordable wireless broadband today, we will have the world’s most affordable Green Energy within this decade.” He said that RIL has entered into a series of partnerships, including equity investments, with local and international companies with technological and execution capabilities, strong track record of innovation and a growing number of patents & IPRs across the green energy value chain.
RIL set to achieve uniquely integrated position in green energy value chain globally
Work has also started on the four giga-factories at Dhirubhai Ambani Green Energy Giga Complex to set up world-scale production capacity for solar panels, energy storage systems, electrolysers and fuel cells spread over 5,000 acres in Jamnagar. “Reliance will also invest in creating an ecosystem of thousands of small and medium scale project consultants and installers pan-India to set up Green Energy generation projects in every nook and corner of the country. Similarly, Reliance will undertake large GigaWatt scale turnkey green energy projects for Power GenCos or large investors on its own. With these collaborations and the Giga-factories, Reliance is set to achieve a uniquely integrated position in the Green Energy value chain globally,” Ambani said.
Clean, abundant energy for everyone at the most affordable price
Last year, Reliance shared its plan to invest $10 billion in green energy over three years. This investment would be towards setting up four giga-factories to manufacture and fully integrate all critical components for the business and will also include investment on the value chain, partnerships, and future technologies. FY 2021-22 marked the beginning of Reliance’s Green Transformation, at a scale which will make India the world’s leading green energy producer. Reliance will develop end-to-end Green Energy solutions, which will make clean and abundant energy available to everyone at the most affordable price, Ambani stated.
RIL green energy business may outperform other growth engines in 5-7 years
Reliance Chairman is confident that RIL’s green energy business will outshine other growth engines in the next 5-7 years. “Reliance has charted its next journey of transformation to help the world cope with the climate change crisis. Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years. This new growth engine holds great promise to outshine all our existing growth engines in just 5-7 years,” he said.