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- Reliance AGM 2021 Update; Mukesh Ambani Competition To Gautam Adani And Elon Musk In Green Energy Business
Mumbai4 hours ago
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The 44th annual meeting of Reliance Industries has concluded on Thursday. The company’s chairman and managing director Mukesh Ambani made many big announcements in the meeting. This included 5G trials from the launch of new phones with Google. The most important thing was that RIL will now try its hand in the green energy business as well.
4 gig factories will be built
Mukesh Ambani emphasized the Global New Energy Agenda at the AGM. In the meeting, he said that in 2021, the company will launch a new energy business, which will be led by RIL. For this, Reliance will build a four giga plant at its Jamnagar Giga Complex.
There will be a total investment of 75 thousand crore rupees in green business
The company will spend 60 thousand crores on this. In addition, the company will invest an additional Rs 15,000 crore on partnerships and future technology related to the development of the value chain of the Green Initiative. Overall, RIL will invest Rs 75,000 crore in the next three years on the new green energy business. He said that by 2030, Reliance will generate 100 GW of solar energy.
Net zero carbon emissions target in the next 15 years
Reliance will bring Gujarat on the solar map of India and the world. The company has formed a New Energy Council, in which many of the best skilled people of the country have been included. He told that the company’s plan is to have net zero carbon emissions in the next 15 years. Mukesh Ambani said that through the new business, Reliance Solar Manufacturing Unit, Battery Plant, Fuel Cell Making Factory and Electrolyzer Factory will be opened for production of Green Hydrogen.
Elon Musk and Gautam Adani will compete
Let us tell you that Elon Musk, CEO of electric car maker Tesla and Gautam Adani, chairman of Adani Group, are also focusing on the green energy sector. But Ambani’s entry is expected to show the potential for a tough competition in the sector.
The company’s total revenue stood at Rs 5.40 lakh crore.
In the meeting, Mukesh Ambani said that the performance of Reliance has been consistently outstanding. The company’s total revenue stood at Rs 5.40 lakh crore. Last year Reliance gave 75 thousand new jobs. As the country’s largest company, Reliance Industries contributed well to the country’s economy, which accounts for 6.8% in merchandise exports.