Reliance bets big on Green Energy, to invest Rs.75,000 Crores

    Reliance Industries Ltd has announced Rs.75,000 Crores investments outlay to augment Green Energy Focus, it also revealed it has raised a record Rs 3.24 lakh crore in capital from stake sale in units, rights issue and asset monetisation, its chairman Mukesh Ambani said Thursday.

    Addressing shareholders, he said the company raised Rs 3,24,432 crore capital through the sale of stake in digital unit Jio Platforms and retail venture, rights issue and asset monetisation.

    RIL embarks on a huge Green Energy Drive, Mukesh Ambani says the best is yet to come

    Reliance Industries Ltd (RIL) is investing Rs 75,000 crore in its new business focused on clean energy, which includes solar and green hydrogen. The company will build four giga factories focusing on solar, storage battery, green hydrogen and a fuel cell factory, which can convert hydrogen into mobile and stationary power.

    While solar power has been much talked about, it is only in recent times that the focus has shifted to green hydrogen in the world’s fight against the climate crisis. With the Indian government pushing the agenda apart, Reliance Industries and Chart Industries of the US are leading an alliance to take the hydrogen technology agenda forward by forming the India H2 Alliance (IH2A).

    ‘RIL raised USD 44.4 billion – largest-ever capital raise by any company in a year globally. This capital raise is a strong vote of confidence by global investors in India’s growth potential.

    IEA data further reveals that production of hydrogen is responsible for carbon dioxide (CO2) emissions of around 830 million tonnes per year, equivalent to the combined CO2 emissions of the UK and Indonesia.

    This makes moving to clean energy the need of the hour. According to a Tech Crunch report, one of the key characteristics of hydrogen is that it has long-duration energy- storage capabilities, which makes it a complement to weather-dependent energies like solar and wind. Storage is critical to the growth of renewable energy, and the greater use of hydrogen in renewable-energy storage can drive the cost of both down.

    India, in particular, is playing a key role in this space, and has partnered with companies, globally, to take the green hydrogen agenda forward.

    Google and Jio showcase jointly developed smartphone JioPhone Next JioPhone Next comes with truly breakthrough premium capabilities including language and translation features, a great camera, and support for the latest Android and security updates — unprecedented for affordable smartphones Will be available starting 10th September 2021


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