Reliance Invests Heavily in Green Energy with Major Solar and Hydrogen Initiatives

Key Takeaways

Reliance Industries is advancing its green energy strategy while continuing to invest in traditional energy sources.
The company aims to produce 3 million tonnes of green hydrogen annually by 2032, emphasizing affordability and efficiency.
Expansion plans include a massive solar project in Kutch, potentially supplying 10% of India’s electricity needs in a decade.

Reliance’s Green Energy Vision

Reliance Industries Limited (RIL) is undertaking a comprehensive green energy initiative, announced by chairman Mukesh Ambani and director Anant Ambani during the company’s 48th Annual General Meeting. Ambani articulated a dual approach, emphasizing the importance of hydrocarbons while also accelerating investments in renewable energy technologies.

Ambani highlighted the goal of doubling earnings before interest, taxes, depreciation, and amortization (EBITDA), a target originally set in 2022. A central focus of this green strategy involves ramping up solar energy production. RIL’s facility in Jamnagar has begun manufacturing high-efficiency heterojunction (HJT) solar modules, achieving an initial output of 200 MW. These modules exhibit a 10% improvement in energy yield, 20% better temperature performance, and a 25% reduction in degradation. The manufacturing capacity is projected to grow from an initial 10 GW per year to 20 GW, establishing it as the largest integrated solar production site globally.

To support this solar expansion, a 5,50,000-acre project in Kutch, Gujarat, is in the pipeline, envisioned to be three times the size of Singapore. At its peak, the facility aims to install 55 MW of solar modules and 150 MWh of batteries daily, potentially fulfilling 10% of India’s electricity demand within the next decade.

Additionally, green hydrogen is positioned as a key component of RIL’s transition to renewable energy. Anant Ambani confirmed plans for a new electrolyser plant, expected to be operational by the end of 2026, with a production scale of 3 GW annually. The company aims to lower the cost of green hydrogen to under $1 per kg, which Ambani believes is crucial for fostering widespread industrial adoption and establishing India as a leader in green hydrogen production.

Mukesh Ambani addressed RIL’s commitment to enhancing India’s energy security, affordability, and sustainability, which he referred to as the country’s energy trilemma. He expressed confidence that the new energy sector could rival the scale of RIL’s oil-to-chemicals operations within the next 5 to 7 years.

In a related initiative, Nita Ambani, chairperson of the Reliance Foundation, announced the launch of a new chemotherapy and immunotherapy wing at the Sir H. N. Reliance Foundation Hospital, which will emphasize advanced pediatric care. Additionally, a significant 2,000-bed medical facility is under construction in Mumbai.

This comprehensive strategy outlines RIL’s commitment to transforming its energy portfolio while contributing to India’s broader sustainability goals. With a dual focus on traditional hydrocarbon operations and renewable energy solutions, Reliance is positioning itself as a pivotal player in the future energy landscape.

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