Reliance Industries Limited had recently shown interest in the renewable energy sector. The company is investing close to Rs 75,000 Cr
Reliance Industries Limited has started work on constructing the Dhirubhai Ambani Green Energy Giga Complex. Located in Jamnagar, Gujarat, the complex will house not one but for gigafactories.
“We have started developing the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. It will be amongst the largest integrated renewable energy manufacturing facilities in the world… Over the next three years we will invest Rs 75,000 crore in it,” said Mukesh Ambani at the International Climate Summit 2021.
The four gigafactories that Reliance is working on includes an integrated solar photovoltaic module factory, an energy storage battery factory, an electrolyser factory and a fuel-cell factory for converting hydrogen into motive and stationary power.
“Although the costs of hydrogen from electrolysis today are high, they are expected to fall significantly in the coming years,” said Ambani.
He also mentioned that new technologies will result in reducing the cost of distribution, and gree hydrogen will attract significant investments. There are rumors in the market that Reliance is looking to buy Europe’s largest solar panel manufacturer, REC Group. REC produces silicon material for photovoltaic (PV) applications and multi-crystalline wafers. It also makes solar cells and modules.
RIL’s newly-established arm, Reliance New Energy Solar Ltd (RNESL), along with strategic investors Paulson & Co. Inc. and Bill Gates and a few other investors, has announced an investment of $144 million in the Massachusetts-based company called Ambri. Ambri can cater to projects that require energy storage systems from 10 Megawatt Hour to over 2 Gigawatt Hour.
