Reliance Industries CEO Mukesh Ambani at the 44th AGM announced that the company will built four Giga Factories in a 5,000-acre Dhirubhai Ambani Green Energy Giga Complex in Jamnagar of Gujarat to boost India’s renewable energy resource capabilities.
In his speech, Mukesh Ambani tabled the future of renewable energy projects of the company that has been exploring new business from being the largest petroleum company in the country.
Four new Giga Factories of Reliance Industries includes:
- Integrated solar photovoltaic module Giga Factory – Production of solar energy
- Advanced energy storage battery Giga Factory – Storage of intermittent energy
- Electrolyzer Giga Factory – Production of Green Hydrogen
- Fuel cell Giga Factory – Converting hydrogen into mobile & stationary power.
Reliance Industries aims to make India one of the biggest exporters of renewable resources in the world with these four Giga factories.
The most notable of the project is the solar energy manufacturing factory that will manufacture high-efficiency low-cost solar cells with the aim to offer most affordable solar panels in the world and make them accessible in the form of rooftop installations and decentralized access for the rural population of India.
Reliance aims to produce 100 GW out of the India’s 450 GW goal for renewable energy capacity by 2030.
To achieve this mammoth project Reliance Industries will invest around Rs. 60,000 crores in its New Energy and Materials Business for the next three years and an additional Rs. 15,000 crore will be invested in the value chain, partnerships and future technologies for these projects.