Reliance Industries to invest Rs 75,000 crore on new clean energy business over 3 years

Reliance Industries NSE -2.50 % has announced an ambitious initial investment of Rs 75,000 crore over the next three years to build a new clean energy business to fuel its commitment to be net carbon neutral by 2035.

Chairman Mukesh Ambani told shareholders at the company’s Annual General Meet that RIL will transform its legacy business into a sustainable, circular and net zero carbon materials business resulting in a “multi-decade growth path” for the company. A twin strategy will aim at decarbonising and repurposing its existing assets to extend their economic life and earning capacity on one hand, and on building a new energy and materials ecosystem on the other.