Mukesh wants lowest tariffs to shake up new energy

New Delhi:

Reliance Industries Ltd has rocked the telecom sector with the lowest tariffs offered, and it wants to the in the green energy business, which its billionaire chairman Mukesh Ambani believes is on track for a 5-7 all existing growth engines during the year.

Mr. Ambani, who has pledged Rs 60 crore in green energy, said RIL will its investment in the business, which will start to come online in the next 12 months.

In the company’s annual report, Ambani, Chairman and Managing Director of RIL, said: “Over the next 12 months, our investments in the green energy value chain will gradually start to come into play and expand over the next few years. scale.”

“This new growth engine is poised to all our existing growth engines in just 5-7 years.” Ambani is turning Reliance into clean energy in an attempt to diversify from its traditional refining and petrochemicals business.

The company is building gigafactories for the entire green energy value chain – from solar power generation to the production of green hydrogen to its distribution and consumption.

This is to reduce the current high cost to an affordable limit.

The tycoon has a proven track record of implementing business and has transformed Reliance from an energy giant to a consumer services giant over the past decade.

“Fiscal 2021-22 marks the start of Reliance’s green transition at a scale that will make India the world’s leading producer of green energy,” Ambani said.

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Ambani said Reliance will develop end-to-end green energy solutions so that everyone can use them at the most affordable . “We know that affordability is the most critical factor in the adoption of any new technology and the scale of the societal benefit it can create. Reliance embarks on this journey with a vision to repeat what it has achieved in wireless broadband.”

The company’s telecommunications arm, Jio, wooed customers by offering free voice calls and cheap mobile data, scaling up to become the country’s No. 1 operator within a few years of its launch.

“Just as India has the world’s most affordable wireless broadband today, we will have the world’s most affordable green energy in this decade,” he said. “These solutions will then be exported to other countries to help them control carbon emissions.”

With its world-class execution capabilities and strong debt-free balance sheet, Reliance has started investing in the clean energy sector.

It has started the of four plants at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat, and completed over Rs 550 crore acquisitions and investments to build new energy capabilities.

“To kickstart the program, Reliance announced a capital expenditure commitment of $10 over three years last year,” he said.

The company has established a range of partnerships, including equity investments, with local and international companies with unique technology and execution capabilities in the green energy value chain.

Reliance partners include Ambri in the US, Faradion in the UK and Netherlands-based Lithium Werks in the energy storage space.

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Likewise, Reliance has invested in Germany’s NexWafe, a pioneer in next-generation technology that produces the single-crystal silicon wafers needed to make solar panels. It also acquired a stake in REC Solar, the promoter’s global technology leader in solar panel manufacturing.

Reliance has acquired a 40% stake in Sterling & Wilson Renewable Energy, one of the world’s leading EPC turnkey contractors for large-scale solar projects.

In the hydrogen ecosystem, Reliance has teamed up with US-based Chart Industries to form the India H2 Alliance to commercialize hydrogen technology and collaborate with other stakeholders to develop the supply chain.

It has also reached an agreement with Denmark’s Stiesdal A/S for its innovative next-generation electrolyzer technology, which has the potential to significantly reduce the cost of producing hydrogen from pure water.

“Meanwhile, we began work on four Giga plants at the Dhirubhai Ambani Green Energy Giga Complex to build world-scale solar panels, energy storage systems, electrolyzers and fuel cells on over 5,000 acres in Jamnagar production capacity,” Ambani said.

Reliance will also invest in creating a pan-India ecosystem of thousands of and medium project consultants and installers to build green energy power generation projects in every corner of the country.

Likewise, Reliance will undertake large gigawatt-scale turnkey green energy projects on its own for power generation companies or large investors.

“Through these collaborations and gigafactories, Reliance will achieve a uniquely integrated position in the global green energy value chain,” he said.

To achieve its net-zero carbon target by 2035, Reliance has initiated the process of separating the petcoke gasification complex into a wholly owned subsidiary, with the aim of repurposing the unit and unlocking value through future collaborations.

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“As Reliance turns to green and renewable energy sources to meet its energy needs, the syngas will be available for upgrading to high-value petrochemicals and hydrogen fuel,” he said. “All these steps will significantly reduce the carbon footprint of the Jamnagar complex.”

At the same time, Reliance continues to expand its existing business into new areas of technology, innovation, scale and execution, he added.