India: Sustainable Business Reliance to Invest 80-Billion-Dollars in Green Energy Projects
Reliance has entered into a MOU with India’s Gujarat state to invest 80 billion dollars in green energy as well as other projects. The deal includes the establishment of the mega renewable energy power plant along with the development of a green hydrogen eco-system.
Ahmedabad/India – Reliance Industries Ltd (RIL) recently signed a MOU with the Government of Gujarat in India for a total investment of 80 billion dollars as part of the State’s Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create numerous direct and indirect employment opportunities in the State.
To make Gujarat net zero and carbon free, RIL proposes to set up a 100 GW renewable energy power plant along with green hydrogen eco-system development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of renewable energy and green hydrogen.
In consultation with the Government of Gujarat, RIL has started the process of scouting land for the 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. RIL will also invest in setting up new energy manufacturing-integrated renewable manufacturing: Solar PV Module (manufacture of Polysilicon, wafer, cell & module); electrolyzer; energy-storage battery; and fuel cells.