Mukesh Ambani unveils ambitious plans for new energy business

MUMBAI: Mukesh Ambani, Chairman, and Managing Director of Reliance Industries Ltd (RIL), on Monday, announced ambitious plans for a new energy business which included setting up a battery GIGA factory, a Green Hydrogen production facility and larger scale power generation through solar and wind power.

“We are accelerating our journey to achieve Net Carbon Zero by 2035 through the use of Renewables and Bioenergy for a sustainable and green business. We are well on our way to building the New Energy ecosystem of manufacturing Solar, Wind, Batteries, Hydrogen, and Bio-energy platforms,” Ambani said.

“This will enable us to speed up the development of our renewable generation assets to deliver round-the-clock electricity for our captive requirements as well as to meet the growing needs of Indian consumers,” he added.

Addressing the 46^th AGM, Ambani said that the group plans to set up a battery GIGA factory by 2026 and it targets 100 (Giga Watt) renewable energy capacity by 2030.

“Our concurrent priority is to set up our battery Giga factory by 2026. It will manufacture battery chemicals, cells, and packs, leading all the way up to containerized energy storage solutions, and will include a Battery Recycling facility to deliver a truly integrated ecosystem,” said Mukesh Ambani.

RIL is progressing well in deploying our committed capital of Rs75,000 crore to build its New Energy manufacturing ecosystem which will enable the group to accelerate giga-scale production for round-the-clock power and four large-scale Green Hydrogen production for green chemicals manufacturing, as well as for green mobility.