- June 24, 2021
- Posted by: Stratford Team
- Category: Business
CHENNAI, June 24 (Reuters) – Reliance Industries Ltd (RELI.NS) will invest 750 billion Indian rupees ($10.10 billion) in a new energy business over the next three years, Chairman Mukesh Ambani told the company’s annual general meeting on Thursday.
Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making factory and an electrolyzer unit to produce green hydrogen as a part of the business, Ambani said.
As a part of the new business – called the Dhirubhai Ambani Green Energy Giga Complex – Reliance will also build solar capacities of at least 100 GW by 2030, Asia’s richest man told his shareholders at the meeting which was held virtually due to COVID-19.
That would account for over a fifth of India’s renewable energy target of installing 450 GW by…