Reliance Industries is investing heavily in recyclable energy generation. Image Courtesy – IndiaTV News
An interview of Mukesh Ambani revealed that Reliance Industries is going to make a big investment in the production of renewable energy. Mukesh Ambani announced that his company would produce 100 Gigawatts of solar power by 2030. The government has set a target of generating 450 Gigawatts of solar energy in the coming days. It was observed from Ambani’s announcement that Reliance alone will produce one-fifth of its solar power.
Mukesh addressed at the International Climate Summit 2021. There he explained what policy Reliance would take in solar energy production in the coming days. In his words, “Prime Minister Narendra Modi has spoken of building an environmentally friendly economy in India. We are ready to make his dream come true.”
A 5,000-acre Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat, has already been started and it would soon become the world’s largest recyclable energy plant, a Reliance official said. There will be four Giga factories. “We will invest Rs 75,000 crore in this project in the next three years,” he said. He also said, “Reliance is trying its best to produce hydrogen in a very cheap and environmentally friendly way. In that case, the price of hydrogen will come down to $2/kg.
Ambani said, “The Indian subcontinent has the blessings of Surya Dev, Vayu Dev, and other deities. It is possible to produce a sufficient amount of recyclable energy here. In our country, sunlight is available more than 300 days a year. Only 0.5 percent of India’s land can be utilized to produce 100 Gigawatts of solar energy.”
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The initiative of reliance will be completed in 4 phases. In the first phase, there will be an integrated solar photovoltaic module factory. The second phase will be incorporated with an advanced energy-providing storage battery factory. An electrolyzer factory for the production of green hydrogen will be their third phase target, and lastly, in the fourth phase, there will be a fuel-cell factory that will convert hydrogen molecules into motive and stationary power.
Mukesh Ambani, The Chairman and Managing Director, Reliance Industries Ltd., told that the rapid drop in the cost of production had made the business of solar energy highly competitive. Only a large-scale investment can ensure a similar kind of growing trend for the green hydrogen business. He also told that the involvement of new technologies for storage and transportation would definitely reduce the cost of distribution.
Mukesh Ambani announced that Reliance Industries Ltd. has set a target to become a net-zero carbon firm by 2023. It has also announced a roadmap for its New Energy Business.
