Reliance may earn $10-15 billion revenue from new energy biz by 2030
Billionaire Mukesh Ambani’s Reliance Industries may by 2030 earn USD 10-15 billion from its new energy business spanning solar to hydrogen but will need acquisitions or partnerships to make up for limited expertise in technology, said a report by Sanford C Bernstein.
Clean energy (solar, battery, electrolyzers, and fuel cells) represents a new growth pillar for Reliance with USD 2 trillion in investment in India through 2050. India is targeting solar capacity of 280GW and 5 million tonne of green H2 production by 2030.
“We expect EV penetration will reach 5 per cent for passenger and commercial vehicles and 21 per cent for two-wheelers. Clean energy could have a TAM (total addressable market) of USD 30 billion in 2030 (USD 10 billion currently).
