Business

Mukesh Ambani wants to repeat telecom miracle in new energy

NEW DELHI: Dependence Industries Ltd, whose lowest tax rates have rocked the telecom industry, is looking to repeat the feat in green energy business, where its billionaire president Mukesh Ambani shows promise to surpass all existing growth engines in the next 5-7 years.
Committed 6 lakh crore Rs on green energy, Ambani said that RIL will scale up its investment in this business that will start operating in the next 12 months.
Ambani, president and chief executive officer of RIL, said in the company’s latest annual report that over the next 12 months, our investments across the Green Energy value chain will gradually begin to come into play. operate and expand in the next few years. “This new growth engine promises to surpass all of our existing growth engines in just 5-7 years.”
Ambani is turning Reliance into clean energy in an effort to diversify its traditional refining and petrochemical businesses.
The company is building giga plants for the entire green energy value chain – from solar power generation to green hydrogen production to distribution and consumption. This is to reduce the current high cost to an acceptable limit.
The mogul has a track record of making business transformations and has transformed Reliance from an energy giant into a consumer services giant over the past decade.
“The year 2021-22 marks the beginning of Reliance’s Green Transformation, at a scale that will make India the leading green energy producer in the world,” Ambani said.
According to Ambani, Reliance will develop end-to-end green energy solutions to provide everyone with the most affordable prices. “We know that affordability is the single most important factor in the adoption of any new technology and the scale of social benefits it can generate. Reliance has begun this journey with an iterative vision. the feat achieved in the field of wireless broadband.”
Jio, the company’s telecommunications venture, scaled up to become the number 1 operator in the country within a few years of its launch as it attracted customers by offering free voice calling services. Cheap charges and data on mobile phones.
“Just as India has the most affordable wireless broadband in the world today, we will have the world’s most affordable green energy this decade,” he said. “And these solutions will then be exported to other countries, helping them contain carbon emissions.”
Leveraging world-class execution and a strong debt-free balance sheet, Reliance has begun investing in the clean energy space.
It has commenced the development of four plants at the Dhirubhai Ambani Green Energy Complex in Jamnagar, Gujarat and completed the acquisition and investment of more than Rs 5,500 crore to build capacity in new energy.
“To kick off this initiative, last year, Reliance announced a commitment to invest $10 billion over three years,” he said.
The company has entered into a range of partnerships, including equity investments, with local and international companies with unique technology and execution capabilities across the entire green energy value chain. .
Reliance partnerships include companies like Ambri in the US, Faradion in the UK, and Netherlands-based Lithium Werks in the energy storage space.
Similarly, Reliance invested in Germany’s NexWafe, a pioneer in next-generation technology to produce monocrystalline silicon wafers needed in the production of solar panels. It also acquired promoters shares in REC Solar – a global technology leader in solar panel manufacturing.
Reliance has acquired a 40% stake in Sterling & Wilson Renewable Energy – one of the world’s leading turnkey EPC contractors in large-scale solar projects.
In the hydrogen ecosystem, Reliance has partnered with US-based Chart Industries to form the India H2 Alliance to commercialize hydrogen technology and develop supply chains in collaboration with other stakeholders. of India.
It has also signed an agreement with Denmark’s Stiesdal A/S for innovative next-generation electrolysis technology, which has the potential to significantly reduce the cost of producing hydrogen from purified water.
“At the same time, we started working with four Giga plants at the Dhirubhai Ambani Green Energy Complex to establish world-scale production capacity for solar panels, storage systems,” said Ambani. energy, electrolytes and fuel cells spread over 5,000 acres in Jamnagar.”
Reliance will also invest in creating an ecosystem of thousands of small and medium scale project consultants and installers across India to set up green energy production projects in every corner of the land. country.
Similarly, Reliance will carry out Giga Watt-scale turnkey green energy projects on its own for power generation companies or large investors.
“With this partnership and the Giga factories, Reliance will achieve a uniquely integrated position in the Global Green Energy value chain,” he said.
To achieve its goal of net zero carbon by 2035, Reliance has begun the process of splitting the petcoke gasification complex into a wholly owned subsidiary, with the aim of reusing equipment and unlocking value through through future cooperation.
“With Reliance’s shift to green and renewable energy for its energy needs, syngas will be available to upgrade into high value petrochemicals and hydrogen fuels,” he said. . “All of these steps will significantly reduce the carbon footprint of the Jamnagar complex.”
At the same time, Reliance continues to expand its existing businesses into newer frontiers of technology, innovation, scale and execution, he added.

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