As part of the investment, Reliance Industries Limited (RIL) inked an MoU with the Gujarat government on Thursday for a total investment of Rs 5.955 lakh crore. Vibrant Gujarat Summit 2022 Promotional Activity These initiatives will generate a total of 10 lakh direct and indirect jobs in the state.
RIL wants to invest Rs 5 lakh crore in Gujarat over the next 10 to 15 years to build a 100 GW Renewable Energy Power Plant and a Green Hydrogen Eco-System Development in order to make the state carbon-free. RIL will create an ecosystem to support SMEs and encourage businesses to adopt new technologies and developments that will lead to the captive use of Renewable Energy and Green Hydrogen.
The goal of Hon’ble Prime Minister Shri Narendra Modi is reflected in RIL’s activities for decarbonization and the creation of a green ecosystem. RIL has begun the process of exploring the land for a 100 GW renewable energy generating plant in Kutch, Banaskantha, and Dholera in conjunction with the Gujarat government. In Kutch, the business has asked 4.5 lakh acres of land.
RIL will invest another Rs 60,000 crore in the establishment of a New Energy Manufacturing-Integrated Renewable Manufacturing facility. 1) Solar PV Module (Polysilicon, wafer, cell, and module manufacturing); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells manufacturing
RIL will invest an additional Rs 25,000 crore in existing projects and new enterprises over the next 3 to 5 years. RIL also plans to invest Rs 7,500 crore over three to five years to upgrade Jio’s network to 5G, as well as additional Rs 3,000 crore over five years in Reliance Retail.