Five years after disrupting the telecom space with the launch of Jio, Reliance Industries Ltd (RIL) on Thursday announced yet another game-changing move — a mega entry into green energy.
The company is planning to get into solar power generation and manufacturing, hydrogen production, e-fuels, and energy storage under its “New Energy and New Materials” division.
It will also set up a platform for renewable energy project finance to source long-term global capital for investment in these sectors.
The three-pronged plan will cumulatively involve an investment of Rs 75,000 crore over three years, Mukesh Ambani, chairman, RIL, announced during its annual general meeting (AGM) on Thursday. The AGM was also addressed by his wife, Nita Ambani and his children, Akash and Isha.
