Mumbai: Reliance Industries (RIL) on Friday laid out a sweeping green energy strategy, with chairman Mukesh Ambani and director Anant Ambani detailing plans to build what they called the world's most integrated new energy ecosystem. "Hydrocarbons will remain vital for India for several years. Our strategy is clear: excel in traditional energy while building the system of the future," Mukesh Ambani told shareholders at the company's virtual 48th Annual General Meeting, signalling Reliance's dual-track approach of maintaining Oil-to-Chemicals (O2C) strength while accelerating investments in renewables.
Ambani reiterated about doubling the company's earnings before interest, taxes, depreciation, and amortisation, a reference he had made first in 2022.
Solar at Global Scale
RIL is ramping up solar manufacturing at Jamnagar, where its giga factory has begun producing heterojunction (HJT) modules. "We have successfully produced our first 200 MW of HJT modules. These deliver 10% higher energy yield, 20% better temperature performance, and 25% lower degradation," said Anant Ambani, who debuted as a director speaker at the AGM.
Capacity will expand to 10 GW per annum, scaling to 20 GW, making it the largest integrated solar site globally. The plan is anchored by a 5,50,000-acre project in Kutch, Gujarat - three times the size of Singapore. At peak, the site will install 55 MW of solar modules and 150 MWh of batteries every day, potentially meeting 10% of India's electricity demand within a decade.
Hydrogen focus
Green hydrogen featured as a cornerstone of RIL's energy transition. "Our electrolyser giga factory will be operational by end-2026, with the ability to scale up to 3 GW per year. It will enable cost-competitive green hydrogen production at global scale," Anant Ambani said.
Mukesh Ambani reiterated the company's target of producing hydrogen at under $1 per kg, calling it "a price point that will unlock industrial adoption and make India a global hub for green hydrogen and its derivatives." Reliance aims to scale to 3 million tonnes per annum of green hydrogen equivalent capacity by 2032.
From Oil to Clean Energy
RIL is focussing on the pivot to clean fuels. Mukesh Ambani described RIL's new energy focus as "a singular purpose: to make India self-sufficient in energy, and to resolve India's energy trilemma of security, affordability, and sustainability. He added the new energy business has the potential to become as big as its oil-to-chemicals business in the next 5-7 years.
Reliance Foundation
Nita Ambani, chairperson, Reliance Foundation, said at the Sir H. N. Reliance Foundation Hospital, a new Jeevan wing is being launched for chemotherapy and immunotherapy, with advanced paediatric care at its core. The Foundation is also building a 2,000-bed medical city in Mumbai.
Ambani reiterated about doubling the company's earnings before interest, taxes, depreciation, and amortisation, a reference he had made first in 2022.
Solar at Global Scale
RIL is ramping up solar manufacturing at Jamnagar, where its giga factory has begun producing heterojunction (HJT) modules. "We have successfully produced our first 200 MW of HJT modules. These deliver 10% higher energy yield, 20% better temperature performance, and 25% lower degradation," said Anant Ambani, who debuted as a director speaker at the AGM.
Capacity will expand to 10 GW per annum, scaling to 20 GW, making it the largest integrated solar site globally. The plan is anchored by a 5,50,000-acre project in Kutch, Gujarat - three times the size of Singapore. At peak, the site will install 55 MW of solar modules and 150 MWh of batteries every day, potentially meeting 10% of India's electricity demand within a decade.
Hydrogen focus
Green hydrogen featured as a cornerstone of RIL's energy transition. "Our electrolyser giga factory will be operational by end-2026, with the ability to scale up to 3 GW per year. It will enable cost-competitive green hydrogen production at global scale," Anant Ambani said.
Mukesh Ambani reiterated the company's target of producing hydrogen at under $1 per kg, calling it "a price point that will unlock industrial adoption and make India a global hub for green hydrogen and its derivatives." Reliance aims to scale to 3 million tonnes per annum of green hydrogen equivalent capacity by 2032.
From Oil to Clean Energy
RIL is focussing on the pivot to clean fuels. Mukesh Ambani described RIL's new energy focus as "a singular purpose: to make India self-sufficient in energy, and to resolve India's energy trilemma of security, affordability, and sustainability. He added the new energy business has the potential to become as big as its oil-to-chemicals business in the next 5-7 years.
Reliance Foundation
Nita Ambani, chairperson, Reliance Foundation, said at the Sir H. N. Reliance Foundation Hospital, a new Jeevan wing is being launched for chemotherapy and immunotherapy, with advanced paediatric care at its core. The Foundation is also building a 2,000-bed medical city in Mumbai.
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