Mukesh Ambani throws a $10 billion clean energy challenge at rivals
NEW DELHI: Reliance Industries Ltd will spend Rs 75,000 crore, or over $10 billion, on adding giga-size clean energy knowledge and manufacturing verticals to its diversified business empire over the next three years, tossing a challenge at energy rivals and preparing for the future by further delinking the conglomerate’s fortunes from oil prices.
The company will “target to achieve costs that are lowest in the world to ensure affordability of our solar modules” and “enable at least 100 GW (gigawatt) of solar energy capacity by 2030, chairman Mukesh Ambani told shareholders.
“As one of the biggest energy markets in the world, India will play a leading role in transforming the global energy landscape. In 2016, we launched Jio with the aim of bridging the Digital Divide in India.
