Reliance Green Energy Plans: After making a mark in the telecom sector, Reliance Industries Limited (RIL) is now preparing to repeat its success in the green energy sector. Reliance Group Chairman Mukesh Ambani intends to move rapidly in the green energy sector in the next five to seven years. After committing to invest Rs 6 lakh crore in the green energy sector, Ambani says that Reliance will increase investment in this business.
This business will start in the next 12 months. RIL's Chairman and Managing Director Ambani said in the company's annual report, "Our investment in the green energy value chain will start gradually over the next 12 months and will increase over the next few years."
"This new 'engine of growth' can outperform all our existing growth engines in just five to seven years," he said. It is noteworthy that Ambani is leading Reliance towards clean energy in an effort to diversify its business apart from the traditional oil refining and petrochemical business.
Reliance is building giga-factories for the entire green energy value chain from solar power generation to green hydrogen production and its distribution and consumption. Ambani is known to execute any business change in a tremendous manner.
Over the past decade, he has transformed Reliance from an energy giant to a consumer services leader. With its world-class execution capability and debt-free ledger, Reliance has started investing in the clean energy sector. The group has started construction of four giga-factories at the Dhirubhai Ambani Green Energy Complex in Jamnagar, Gujarat. The company has completed acquisitions and investments of over Rs 5,500 crore for capacity building in the new energy sector.