Mukesh Ambani's Reliance To Invest $80 Billion in Green Energy in Gujarat
The projects aim to generate 10 lakh direct or indirect employment opportunities in Gujarat.
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Mukesh Ambani-led Reliance Industries Limited (RIL) signed a memorandum of understanding (MoU) on 13 January with Gujarat for a total investment of Rs 5.95 lakh crore as part of the investment promotion activity for Vibrant Gujarat Summit 2022.
The projects aim to generate 10 lakh direct or indirect employment opportunities in Gujarat.
"To make Gujarat net-zero and carbon-free, RIL proposes to invest ₹ 5 lakh crore in the State over 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development," a company statement read.
The company said it will develop an ecosystem for helping small and medium enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of renewable energy and green hydrogen.
RIL also mentioned that it has started the process of looking for land for 100 GW renewable energy power projects in Kutch, Banaskantha, and Dholera.
Reliance also said it will invest another Rs 60,000 crore in setting up a new energy manufacturing-integrated renewable manufacturing.
Further, Rs 25,000 crore investments will be made by the company in existing projects and new ventures over the next three to five years.
Additionally, the company has also planned to invest Rs 7,500 crore for Jio Network upgradation to 5G and another Rs 3,000 crore in Reliance Retail.
(With inputs from NDTV.)
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