Snapshot
Reliance signed MoU with Gujarat for a total investment of Rs 5.9 lakh crore to set up 100 GW renewable energy power plant and Green Hydrogen ecosystem development.
Reliance Industries Limited (RIL) has requested the Government of Gujarat for 4.5 lakh acres of land in Kutch. The company plans to invest Rs five lakh crore in Gujarat to set up a 100 GW renewable energy power plant and green hydrogen ecosystem development.
“In consultation with the Government of Gujarat, RIL has started the process of scouting land for 100 GW renewable energy power projects in Kutch, Banaskantha and Dholera,” the company said.
“RIL will develop an ecosystem 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,” it added.
On Thursday (13 January), RIL signed MoU with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of investment promotion activity for Vibrant Gujarat Summit 2022.
According to the company, these projects will create ten lakh direct/indirect employment opportunities in the State.
Besides its big plans for renewable energy generation, RIL proposes to invest another Rs 60,000 crore in setting up manufacturing facilities for Solar PV Module (manufacture of Polysilicon, wafer, cell & module); Electrolyzer; Energy-storage Battery; and Fuel Cells.
RIL has demonstrated its resolve to become a renewable and new energy major by conducting acquisitions and establishing new entities.
Recently, Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of energy-to-telecom behemoth Reliance Industries Ltd, announced that it had signed definitive agreements to acquire 100 per cent shareholding in Faradion Limited, a leading non-aqueous sodium-ion cell technology provider, at an enterprise value of $134.9 million.
Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project in Jamnagar.