Updated: 01/13/2022 5:22 PM IS
Ahmedabad (Gujarat) [India]Jan 13 (ANI): Reliance Industries Limited (RIL) announced Thursday that it will invest 5.95 lakh crore rupees in renewable power plants and other projects in Gujarat.
The proposed projects will create 10 lakh direct and indirect employment opportunities in the state.
The company, led by Mukesh Ambani, signed a letter of intent with the Gujarat government for the investment proposal as part of the investment promotion activity for Vibrant Gujarat Summit 2022.
To make Gujarat net zero and carbon free, RIL is proposing to invest Rs 5 lakh crore in the state over a 10 to 15 year period to add a 100 GW renewable power plant and the development of a green hydrogen ecosystem erect, said RIL in a statement.
“RIL will develop an ecosystem to support small and medium-sized enterprises (SMEs) and encourage entrepreneurs to adopt new technologies and innovations that lead to self-use of renewable energy and green hydrogen,” it says.
RIL’s initiatives to decarbonise and create a green ecosystem stem from Prime Minister Narendra Modi’s vision.
In consultation with the Gujarat government, RIL has started exploring land for a 100 GW renewable energy project in Kutch, Banaskantha and Dholera. The company has applied for 4.5 hectares of land in Kutch.
RIL will invest a further Rs. 60,000 billion in building integrated, renewable manufacturing in the area of New Energy Manufacturing: 1) Solar PV module (manufacture of polysilicon, wafer, cell and module); 2) electrolyzer; 3) energy storage battery; 4) fuel cells.
Over the next 3 to 5 years, RIL will invest an additional Rs 25,000 billion in existing projects and new ventures.
RIL has also proposed to invest Rs 7,500 billion over 3 to 5 years in upgrading the Jio network to 5G and an additional Rs 3,000 billion over 5 years in Reliance Retail. (ANI)
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