Global green energy shift won't hit Reliance's oil business in India
Mukesh Ambani، the Indian billionaire businessman and Chairman and managing director of Reliance Industries Ltd.، India's most valuable company by market value، and the richest person in Asia، affirmed that his company will continue to operate its refineries and petrochemical projects profitably، even as fossil fuel demand wanes due to a gradual global shift to green energy and clean fuels as the shift won't hit Reliance's oil business.
Mukesh Ambani، the Indian billionaire businessman and Chairman and managing director of Reliance Industries Ltd.، with an estimated net worth of $92 billion as of today to be the 12th richest in the world، stated at the group's annual shareholder meeting that there has been already a comprehensive strategy to ensure that all the investments and all assets remain not just safe، but actually become profitable even as fossil fuel demand wanes and global shift to green energy is under way.
Reliance Industries Ltd.، will switch to 100% green energy
Reuters mentioned that Mukesh Ambani، the Indian billionaire businessman and Chairman and managing director of Reliance Industries Ltd.، will switch to 100% green energy for captive consumption to cut energy costs، and upgrade the output of its refineries into value added chemicals.
Billionaire Mukesh Ambani، the Indian businessman and Chairman and managing director of Reliance Industries Ltd.، also announced the appointment of his three children as board directors at the oil-to-chemicals conglomerate، as he prepares to eventually hand over the reins and retire.
Reliance Industries is investing $9.08 billion in green energy and technologies
Reliance Industries Ltd. group، the operator of the world's biggest refining complex at Jamnagar in western India، is investing 750 billion rupees ($9.08 billion) in green energy and technologies as it seeks to become net carbon zero by 2035 as it is building four giga factories at Jamnagar to produce solar cells and modules، energy storage batteries، fuel cells and green hydrogen.
Mukesh Ambani، the Indian businessman and Chairman and managing director of Reliance Industries Ltd.، aims to start commissioning facilities at its solar cell and module factory in phases from end-2025 and to set up a battery giga factory by 2026، while he has the plan to install at least 100 gigawatts of renewable and green energy generation capacity by 2030 but he assures that even after clean energy transition، Jamnagar refining complex and all other petrochemical complexes will continue to operate profitably.
Billionaire Mukesh Ambani: Reliance's Jamnagar refining complex to process 1.4 million barrels of oil per day
Billionaire Mukesh Ambani، the Indian businessman and Chairman and managing director of Reliance Industries، indicates that Reliance's Jamnagar refining complex، which has the capability to process 1.4 million barrels of oil per day، will be progressively operated as a chemicals and materials feedstock production engine as the oil-to-chemicals conglomerate has a 15-year vision to build Reliance as one of the world's leading green Energy and New Materials company.
The green Energy business based on the principle of Carbon Recycle and Circular Economy is a multi-trillion opportunity for India and the world as well as it is also an opportunity to make clean and green energy abundantly available at an affordable price to every Indian، every Indian enterprise، and every Indian utility as renewable energy is more than a business، it is to save Planet Earth from the ravages of climate change.
Reliance has an ambitious target of achieving net-zero carbon by 2035
Mukesh Ambani confirmed that Reliance has set an ambitious target of achieving net-zero carbon by 2035 and investing over USD 10 billion (Rs 75،000 crore) in building the most comprehensive ecosystem for green energy and New Materials in India as an optimal mix of reliable، clean and affordable energy solutions with hydrogen، wind، solar، fuel cells، and batteries to secure the promise of a sustainable future for generations to come.
Reliance is committed to helping India lead in the Green New Energy future and are bridging the green energy divide in India and the world as Reliance is the place for those who dare to tackle the seemingly impossible challenges of the society and invent solutions that overcome them and is looking for candidates who are passionate about sustainability، renewable energy solutions، and truly care about people and planet.
Reliance is investing Rs 5.95 lakh crore in green energy
Reliance is also investing Rs 5.95 lakh crore in green energy and other projects in Gujarat over a span of 10 to 15 years that will help in setting up a 100 GW Renewable Energy Power Plant and with Green Hydrogen Eco-System development as well as will also develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
The green energy Project Management and Construction Division will enable and partner with thousands of green MSME entrepreneurs who can deploy kilowatt to megawatt scale solutions in agriculture، industry، residences and transportation thanks to the Reliance New Energy Council (NEC) which comprises some of the finest minds globally who are experts at the top of their fields، who will guide on technical strategy، help identify opportunities، and advise on partnerships worldwide، as well as who will help validate Reliance strategies and embrace disruptive pathways to achieve its goals.
