Reliance To Invest Rs. 60,000 Crore In Gigafactories To Produce Batteries Under New Energy Business

Indian conglomerate Reliance Industries Limited (RIL) has announced that it will be venturing into the new energy business. The company has created the Dhirubhai Ambani Green Energy Giga Complex with an overall investment of Rs. 75,000 crore. The new facility will be located in Jamnagar on 5,000 acres. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world, iterated Mukesh Ambani, CMD - RIL during the virtual Annual General Meeting call. Jamnagar was the cradle of the company energy business and will also be the cradle of its new energy business.

Reliance has shared a three-part plan for its new energy business. The first part includes building four Giga factories. These will manufacture and fully integrate all the critical components of the new energy ecosystem. The company plans to invest Rs. 60,000 crore in the four Gigafactories over the next three years.

The first part will be for the production of solar energy and will build an integrated solar photovoltaic module factory. The second part of the plan will be for the storage of intermittent energy and Reliance will build an advanced energy storage battery factory. The third part will be for the production of green hydrogen and the company plans to build an electrolyser factory.

The fourth facility will be a fuel cell factory for converting hydrogen into motive and stationary power. Reliance plans to create a fully integrated, end-to-end renewable energy ecosystem. In order to further facilitate this business, Reliance will build two additional divisions to strengthen the ecosystem. This includes the Renewable Energy Project Management and Construction Division, as well as the Renewable Energy Project Finance Division - the company said in a statement.