India’s number one private sector company Reliance Industries has entered into an agreement with the Gujarat state government for a total investment of Rs 5.955 trillion over the next 10-15 years as part of the investment promotion activity for the Vibrant Gujarat Summit 2022, the company said. The memorandum is signed. in a release.
To help make Gujarat net zero and carbon-free, RIL said it plans to invest Rs 5 trillion for setting up 100 GW renewable energy power plants and developing a green hydrogen ecosystem. RIL will develop an ecosystem to support Small and Medium Enterprises (SMEs) and encourage entrepreneurs to adopt new technologies and innovations for captive use of renewable energy and green hydrogen.
RIL’s release said that about one million jobs will be created directly or indirectly from these projects.
In consultation with the Gujarat government, RIL has initiated the process of locating land for the 100 GW renewable energy power project in Kutch, Banaskantha and Dholera, and has placed a request for 4.5 lakh acres of land in Kutch.
In addition, RIL will invest Rs 60,000 crore in setting up new energy manufacturing-integrated renewable manufacturing: 1) solar PV modules (manufacture of polysilicon, wafer, cells and modules); 2) electrolyser; 3) energy storage battery; 4) fuel cell.
In addition, RIL will invest Rs 25,000 crore in existing projects and new ventures over the next 3 to 5 years. RIL has also proposed to invest Rs 7,500 crore over 3 to 5 years to upgrade Jio network to 5G and Rs 3,000 crore over 5 years in Reliance Retail.
(Edit: Vijay Anand)
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