Reliance Industries plans Rs.6-trillion green energy investment in Gujarat
- January 14, 2022
Reliance Industries Ltd (RIL) has signed an MoU with the Gujarat government for an investment of Rs.5.955 trillion (lakh crore), largely towards green energy projects in the western state.
These projects can potential create direct and indirect employment opportunities for an estimated 10 lakh people, RIL said in a statement.
100-GW RE plant (Rs.5 trillion)
To make Gujarat net zero and carbon free, RIL proposes to invest Rs.5 lakh crore in the western state over 10-15 years to set up 100 GW renewable energy power plant and green hydrogen ecosystem development. RIL will develop an ecosystem for assisting small and medium enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of renewable energy and green hydrogen.
In consultation with the Gujarat government, RIL has started the process of scouting land for the proposed 100-GW renewable energy power project, in Kutch, Banaskantha and Dholera. The company has requested 4.5 lakh acres of land in Kutch.
This Rs.6-trillion investment in Gujarat is over and above the Rs.75,000 crore that Reliance Industries is planning to invest in the green energy business, as announced in June 2021. (see details)
Manufacturing plants (Rs.0.6 trillion)
RIL will invest another Rs.60,000 crore in setting up integrated manufacturing facilities in the field of new and renewable energy. The various facilities planned are:
- Solar PV module (polysilicon, wafer, cell & module)
- Electrolyzer
- Energy-storage battery
- Fuel cells
Also read: Reliance To Fully Acquire UK-Based Battery Technology Company
Other ventures (Rs.0.355 trillion)
Further Rs.25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years. RIL has also proposed to invest Rs.7,500 crore over 3-5 for Jio Network upgradation to 5G and another Rs.3,000 crore over five years in Reliance Retail.
Featured photograph (source: ENGIE) is purely for representation