In 2021, Reliance Industries Limited (RIL) is launching its New Energy business with the aim of bridging the green energy divide in India and globally.

The company plans to invest over Rs. 60,000 crore in these initiatives over the next three years for creating and offering a fully integrated, end-to-end renewables energy ecosystem. An additional investment of Rs. 15,000 crore will be in the value chain, partnerships and future technologies, including upstream and downstream industries. So, overall initial investment in the New Energy business will be Rs. 75,000 crore (US $10 billion) in 3 years.

The New Energy business will focus on three pillars - hyper integration, robust business model and scale. First, the focus will be to build and operate truly integrated systems that deliver hyper-performance. Second, will be to build a model that catches the irreversible upward curve in the demand for green, clean and renewable energy and catches the downward curve in the cost of production by improving the efficiency, performance and life-cycle of its assets and operations. Third, is to achieve total system optimisation and economics by improving efficiency and performance.  

To give impetus to the New Energy business, the company has established Reliance New Energy Council with some of the finest minds globally to validate strategies and embrace disruptive pathways, said Mukesh D. Ambani, CMD, Reliance Industries Limited.  

"The company is also creating a coalition of partnerships with leading global universities, best technology companies and most promising start-ups in America, Europe, Australia and Asia. In addition, the company is also leveraging its existing strengths and capabilities in digitisation platforms and large-scale manufacturing," added Ambani.

The company has started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. This will be amongst the largest such integrated renewable energy manufacturing facilities in the world.

The company plans to build four Giga factories which will manufacture and fully integrate all the critical components of the New Energy ecosystem. The factories will have an integrated solar photovoltaic module factory, an advanced energy storage factory, an electrolyser factory, and fuel cell factory.