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Reliance signs MoU for investment worth Rs 5.95 lakh crore in Green Energy in Gujarat

Picture from Gujarat global Summit

The news: Reliance Industries Limited (RIL) on Thursday signed MoU with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022.

  • These projects will create 10 lakh direct/ 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.
  • In consultation with the Government of Gujarat, 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 will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) 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.

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