RIL unveils green energy plan: Ambanis outline solar and hydrogen push; energy sector self-reliance in focus

Reliance Industries detailed an extensive green energy blueprint, with Mukesh Ambani and Anant Ambani presenting their vision for developing what they described as the world's most comprehensive new energy system."Hydrocarbons will remain vital for India for several years.

Our strategy is clear: excel in traditional energy while building the system of the future," said Mukesh Ambani, addressing shareholders at the virtual 48th Annual General Meeting, as quoted by Economic Times, indicating Reliance's parallel approach of maintaining O2C dominance whilst increasing renewable investments.Ambani confirmed his intention to double the company's EBITDA, a statement he initially made in 2022.RIL's Jamnagar facility has commenced production of heterojunction modules. "We have successfully produced our first 200 MW of HJT modules. These deliver 10% higher energy yield, 20% better temperature performance, and 25% lower degradation," stated Anant Ambani in his inaugural address as director.Production will increase to 10 GW annually, reaching 20 GW, establishing it as the world's largest integrated solar facility.

The initiative includes a 5,50,000-acre development in Kutch, Gujarat. The site will install 55 MW of solar modules and 150 MWh of batteries daily, potentially supplying 10% of India's power needs within ten years."Our electrolyser giga factory will be operational by end-2026, with the ability to scale up to 3 GW per year. It will enable cost-competitive green hydrogen production at global scale," Anant Ambani announced.Meanwhile, Mukesh Ambani restated their goal of hydrogen production below $1 per kg, noting it as "a price point that will unlock industrial adoption and make India a global hub for green hydrogen and its derivatives." The company is targeting 3 million tonnes yearly green hydrogen equivalent capacity by 2032.Mukesh Ambani also presented RIL's new energy focus as "a singular purpose: to make India self-sufficient in energy, and to resolve India's energy trilemma of security, affordability, and sustainability." He stated the new energy sector could match their oil-to-chemicals business within 5-7 years.