Reliance to invest Rs 5950 billion in green energy, other projects in Gujarat

• Posted in OilGas
• on January 18, 2022
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Reliance Industries Ltd (RIL) has proposed to invest Rs 5000 billion in Gujarat, over the next 10 to 15 years, to set up 100 GW renewable energy power plant and green hydrogen eco-system development, to make Gujarat net zero and carbon free.

RIL will also develop an eco-system 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, RIL stated in a release. RIL’s initiatives for decarbonisation and creating a green ecosystem emanate from the vision of Prime Minister Narendra Modi, it added.

RIL said the company, in consultation with the Gujarat government, has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company has requested for 4,50,000 acres of land in Kutch.

RIL on Wednesday signed a memorandum of understanding (MoU) with the government of Gujarat for a total investment of Rs 5955 billion as part of investment promotion activity for Vibrant Gujarat Summit 2022.

RIL will invest another Rs 600 billion in setting up New Energy Manufacturing-Integrated Renewable Manufacturing, which include Solar PV Module (manufacture of Polysilicon, wafer, cell and module), Electrolyzer, Energy-storage battery and Fuel Cells.

RIL said it would make a further Rs 250 billion investments in existing projects and new ventures over the next 3 to 5 years. RIL has also proposed to invest Rs 75 billion over 3 to 5 years for Jio Network upgradation to 5G and another Rs 30 billion over 5 years in Reliance Retail.

These projects together will create 1 million direct and indirect employment opportunities in the state, the company stated.

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