RIL to Invest Rs 6 trillion in New Energy Projects in Gujarat to Help State Become Carbon Free

Reliance Industries, India’s primary non-public sector firm has signed a Memorandum of Understanding with the Gujarat state authorities for a complete funding of Rs 5.955 trillion over the subsequent 10-15 years as a part of Investment Promotion Activity for Vibrant Gujarat Summit 2022, the corporate mentioned in a launch.

To assist Gujarat turn into web zero and carbon free, RIL mentioned it plans to take a position Rs 5 trillion to arrange 100 GW renewable vitality energy plant and inexperienced hydrogen ecosystem improvement. RIL will develop an ecosystem for aiding Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new applied sciences and improvements resulting in captive use of renewable vitality and inexperienced hydrogen.

These initiatives will create round one million jobs straight or not directly, the RIL launch mentioned, including that the initiatives emanated from the imaginative and prescient of Prime Minister Narendra Modi.

In session with Government of Gujarat, RIL has began the method of scouting land for 100 GW renewable vitality energy undertaking in Kutch, Banaskantha and Dholera, and has requested for 4.5 lakh acres of land in Kutch.

In addition, RIL will make investments Rs 60,000 crore in organising new vitality manufacturing-integrated renewable manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell and module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells.

Further Rs 25,000 crore of investments will likely be made by RIL in current initiatives and new ventures over subsequent 3 to five years. RIL has additionally proposed to take a position Rs 7,500 crore over 3 to five years for Jio Network upgradation to 5G and one other Rs 3,000 crore over 5 years in Reliance Retail.

(Edited by : Vijay Anand)

Disclaimer:Network18 and TV18 – the businesses that function – are managed by Independent Media Trust, of which Reliance Industries is the only beneficiary.

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