Reliance to Install 100 GW of Renewable Energy Capacity by 2030
The company has committed to deploy ₹750 billion (~$9 billion) for its new energy manufacturing
Diversified group Reliance Industries said it aims to install 100 GW of clean energy capacity by 2030 to contribute significantly to sustainability.
Addressing the 2023 Annual General Meeting of the company, Chairman and Managing Director Mukesh Ambani said over the next five years, Reliance is committed to transitioning a significant portion of its energy footprint in connectivity and digital services to green energy sources.
Ambani reaffirmed Reliance’s determination to achieve Net Carbon Zero by 2035, harnessing the power of renewables and bioenergy.
The company said its priority is to deliver a fully integrated, end-to-end solar photovoltaic (PV) manufacturing ecosystem. Its planned gigafactory aims to offer adaptability and competitive pricing while transforming sand into solar photovoltaic modules.
The solar gigafactory’s operations will encompass the production of PV modules, cells, wafers, ingots, polysilicon, and glass, all situated in a singular location in Jamnagar. The phased rollout of the factory is targeted for completion by the end of 2025.
Utilizing heterojunction technology, the facility will manufacture solar PV cells and modules, catering to both large-scale utility and rooftop power generation.
They will also embark on wind power generation endeavors. The company said it has made significant progress in developing a manufacturing ecosystem critical to achieving cost-efficient wind power generation at giga scale.
Ambani said a significant factor influencing costs in wind blade manufacturing is carbon fiber. The company’s venture into large-scale carbon fiber production is expected to bestow an advantage, enabling deeper integration and reduced expenses in wind turbine manufacturing.
The Reliance Chairman also talked of a battery gigafactory by 2026, encompassing the production of battery chemicals, cells, and packs and extending to containerized energy storage solutions.
Reliance said it has a clear plan for electrolyzer and green hydrogen production.
The company said it is progressing well to deploy its committed capital of ₹750 billion (~$9 billion) to build a new energy manufacturing ecosystem.
After initiating two Compressed Biogas (CBG) demonstration units in Jamnagar, the company has successfully inaugurated its initial commercial-scale CBG facility in Barabanki, Uttar Pradesh, within ten months.
Plans are underway for the expansion of this initiative, with 25 CBG plants slated for deployment across India. The broader objective involves establishing a total of 100 CBG plants over the next five years, utilizing 5.5 million tonnes of agricultural residue and organic waste.
Recently, Reliance was declared as one of the winners by the Solar Energy Corporation of India who would be eligible to receive a total of ₹139.4 billion (~$1.69 billion) under Tranche II of the performance-linked incentive (PLI) program to manufacture 39.6 GW of solar modules.
The company was also one of the participants in Caelux, a U.S.-based perovskite solar cell technology firm’s closure of a $12 million series A3 funding round led by Temasek, a global investment company.