Mumbai: Reliance Industries, led by Mukesh Ambani, plans to invest Rs 1.5 trillion (USD 18 billion) in two key areas: new energy and petrochemical expansion. Rs 75,000 crore (USD 9 billion) will be invested into each sector. This includes a focus on solar energy, battery storage, and green hydrogen.
New Energy Projects Gaining Momentum
Reliance has already started its 1-gigawatt heterojunction (HJT) solar module manufacturing facility. By 2026, the company aims to scale up to 10 gigawatts. This expansion will significantly boost its earnings and contribute to Reliance’s growth in renewable energy.
The new energy business is expected to match earnings from the traditional oil-to-chemicals business by 2029-2031. Over time, Reliance anticipates that more than 50% of its profit will come from new energy.
Focus on Solar and Battery Manufacturing
Reliance is advancing rapidly in solar and battery production. It plans to begin large-scale battery manufacturing by 2026, focusing on lithium iron phosphate (LFP) technology. This is designed for utility-scale energy storage, which is a key part of its clean energy plan.
Additionally, the company has secured vast land in Gujarat’s Kutch region for solar generation, which could produce up to 150 billion units of electricity annually.
Green Hydrogen and Full Integration
Reliance is also building a green hydrogen ecosystem. The company has secured land in Kandla to set up an electrolyser manufacturing plant in partnership with Norway’s Nel ASA. This will be a key part of Reliance’s green hydrogen strategy, integrating solar, battery, and hydrogen production.
Scale and Efficiency
Reliance's solar manufacturing is set to be one of the largest in India, with factories designed to easily scale from 10 gigawatts to 20 gigawatts if needed. The solar modules produced will be among the largest and most efficient in the industry.
Clean Energy Strategy and Biogas Expansion
Alongside solar and battery projects, Reliance is ramping up its compressed biogas (CBG) operations. This is part of a broader effort to reduce reliance on traditional fuels and promote clean energy solutions.
Reliance Industries is moving rapidly toward building a sustainable and integrated energy ecosystem. With investments in solar, battery technology, and green hydrogen, the company is well-positioned for the future of clean energy.
