Reliance's New Energy Business Set To Rival O2C Segment In Next 5-7 Years: Mukesh Ambani
Reliance Industries Ltd.'s new energy business is poised to become as significant as its oil-to-chemicals segment, with investments of up to Rs 75,000 crore and a vision to make India a global leader in green and clean energy, according to Chairman Mukesh Ambani.
The company's Dhirubhai Ambani Green Energy Giga Manufacturing Complex in Jamnagar will be the world's largest and most modern ecosystem, leveraging emerging technologies like AI, IoT, and robotics, Ambani, told shareholders at the company's 47th annual general meeting. This integrated value chain will maximise margins and enable the company to introduce next-gen products with higher efficiency and reduced lifecycle costs, Ambani said.
“We believe that our New Energy business will be truly unique—delivering cash flows that are less cyclical and more predictable. I am, therefore, confident that in the next 5 to 7 years, our New Energy growth engine can aim to deliver an earning capacity, like what our existing O2C (Oil-to- Chemicals) business earns and what it has achieved over the last four decades,” Ambani said.
RIL has leased arid wasteland in Kutch to generate 150 billion units of electricity, meeting nearly 10% of India's energy requirements. The company is building its own transmission infrastructure to deliver stable, renewable energy round-the-clock, starting in 2026, he said.
With access to 2,000 acres of land at Kandla port, Reliance will have an integrated coastal infrastructure for production, storage, evacuation, and shipping of green fuels, ensuring maximum value for its green fuel molecules, he said.
Major Highlights On The New Energy Business:
Bioenergy
Investing in 55 compressed biogas plants by 2025, generating over 30,000 direct and indirect jobs.
Establishing the world's largest bioenergy deep-tech R&D centre at Jamnagar.
Energy plantation pilot on 1,000 acres of arid wasteland to create a self-sustaining ecosystem.
Solar Energy
Commencing production of solar photovoltaic modules by the end of 2024.
Initial annual capacity of 10 GW, with plans for modular expansion.
Developing high-efficiency solar panels with cell efficiency exceeding 26%.
Energy Storage
Constructing an integrated advanced chemistry-based battery manufacturing facility with 30 GWh annual capacity at Jamnagar.
Production to commence by the second half of 2025.
Plans to integrate backward to cell manufacturing and battery chemical production.
Green Hydrogen and Green Fuels
Establishing a fully automated, multi-GW electrolyser manufacturing facility on the west coast of India by 2026.
Building capabilities for futuristic electrolysis-based technologies to reduce energy efficiency and capital costs.
Dhirubhai Ambani Green Energy Giga Manufacturing Complex to be the world's largest and most modern ecosystem.
Leased arid wasteland in Kutch to generate 150 billion units of electricity.
Building transmission infrastructure for round-the-clock renewable energy delivery.
Integrated coastal infrastructure at Kandla port for green fuel production and shipping.
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