Adani vs Reliance: Stage is set for India’s Green Energy Revolution

Just weeks after Mukesh Ambani announced a $10-billion investment by his Reliance Industries over the next three years in clean energy, Gautam Adani committed an outlay of $20 billion over the next decade for the sector. And within weeks of that, Ambani’s Reliance Industries on October 10 announced two key deals on the same day — acquisition of Norway-based REC Solar Holdings for $771 million, and purchase of a 40% stake in Shapoorji Pallonji Group company Sterling & Wilson Solar for $370 million.

These investments and the increased activity in the green space come against the backdrop of pressures from both investors and governments to lower carbon footprints for fighting climate change and global warming. Let’s look at the broad goals of the two groups.