Reliance to invest Rs 5.95 lakh Cr in green energy, other projects in Gujarat
Reliance Industries Limited (RIL) signed MoU with the Gujarat government for a total investment of Rs 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. According to RIL, these projects will create 10 lakh direct and indirect employment opportunities in the State.
“To make Gujarat net zero and carbon free, RIL proposes to invest Rs 5 lakh crore in the State over the span of 10 to 15 years to set up 100 GW renewable energy power plant and green hydrogen eco-system development. RIL will develop an eco-system for assisting small and medium enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of renewable energy and green hydrogen,” the company said in a statement.
In consultation with Gujarat government, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company has requested for 4.5 lakh acres of land in Kutch.
RIL also plans to invest another Rs 60,000 crore in setting up new energy manufacturing-integrated renewable manufacturing of solar PV module (polysilicon, wafer, cell & module), electrolyzer, energy-storage battery and fuel cells.
Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years. RIL has also proposed to invest Rs 7,500 crore over 3 to 5 years for Jio Network upgradation to 5G and another Rs 3,000 crore over 5 years in reliance retail.