Reliance Industries Ltd (RIL) has deployed 55-60% of its ₹75,000 crore commitment toward its new energy business, paving the way for the launch of its 20 GW solar factory’s first phase in early FY25. Announced in 2021 by Chairman Mukesh Ambani, the investment supports an integrated ecosystem for renewable energy production. RIL has infused equity, including ₹200 crore in FY24 and over ₹9,000 crore via debentures, into Reliance New Energy as per its annual report.
The company is constructing a vast 5,000-acre giga complex in Jamnagar, Gujarat, encompassing five facilities for solar PV manufacturing, energy storage, electrolysers, fuel cells, and power electronics. The initial module and cell manufacturing phase is scheduled for FY25, with a full 20 GW facility operational by FY27.
RIL has also secured land in Gujarat for renewable energy development and signed a 128 MW power purchase agreement with a Maharashtra utility for 25 years. Mukesh Ambani envisions scaling the division to match the EBITDA of its oil-to-chemicals business within 5-7 years, targeting 100 GW of renewable energy capacity by 2030.
Reliance Industries Limited (RIL) is one of India’s largest and most diversified conglomerates, with a significant presence in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Founded by Dhirubhai Ambani in 1973, the company has grown to become a global powerhouse under the leadership of Mukesh Ambani.
RIL’s flagship businesses include Reliance Retail, one of the largest retail chains in India, and Jio, a revolutionary telecommunications service that has transformed digital connectivity across the country. The company is also making significant strides in renewable energy, with ambitious plans for green hydrogen, solar manufacturing, and sustainable energy solutions. Reliance’s commitment to innovation, scale, and sustainability
