Reliance made a huge statement at its Annual General Meeting (AGM) 2021 to push the boundaries of India's renewable resource manufacturing capabilities even further. Aside from the Jio Phone Next, which was built in collaboration with Google, Reliance also unveiled plans to build a 5,000-acre complex in India with four integrated Giga Factories to produce renewable energy.
The facility, dubbed the Dhirubhai Ambani Green Energy Giga Complex, would be built near Jamnagar, Gujarat. It will be in charge of manufacturing solar energy and green hydrogen, to make India one of the world's largest exporters of renewable resources.
Mukesh Ambani, the CEO of Reliance Industries and the country's richest man, took the stage to outline the company's three-part plan for establishing its new energy ecosystem. The first step in the plan is to set up the four Giga Factories.
During the Reliance AGM 2021, Ambani said “These [Giga Factories] will manufacture and fully integrate all the critical components of the new energy ecosystem.”
Reliance's CEO further added “One, for the production of solar energy, we will build an integrated solar photovoltaic module factory. Two, for the storage of intermittent energy, we will build an advanced energy storage battery factory. Three, for the production of green hydrogen, we will build an electrolyzer factory. Four, for converting hydrogen for mobile and stationary power, we will build a fuel cell factory.”
In terms of the company's solar energy plans, its Giga factory in Jamnagar will produce high-efficiency, low-cost solar cells. Mukesh Ambani wants to make solar panels and energy storage modules as low as possible so that they can be used by India's rural population.
Reliance plans to produce 100 Gigawatts (GW) of renewable energy capacity by 2030, out of a total of 450 Gigawatts in the country. In rural regions, this will take the shape of rooftop installations and decentralized access.
In the next three years, Reliance will invest roughly Rs. 60,000 crores in its New Energy and Materials Business to enable a seamless start-up of the manufacturing plant. In addition, the company will invest another Rs. 15,000 crores in the value chain, partnerships, and future technologies, bringing the total investment to Rs 75,000 crores.
Will it Rival Tesla?
Now, it's clear from the company's plans that it's attempting to compete with Tesla's solar projects around the world. However, for the time being, calling Reliance a Tesla "rival" is inappropriate. With its solar energy plans, the company hopes to recreate the success Tesla has had in the United States with its solar projects in India in the coming years. As a result, setting up a Giga Factory to produce solar energy appears to be a suitable starting step for Reliance in making India a big exporter of renewable resources in the modern world.
That's all for this article. Stay tuned to CERadar for more such updates!
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