Reliance Industry limited (RIL) will invest Rs 5.9 crore in Gujarat for green and other projects. RIL group has signed an MoU with Gujarat government as a part of the investment promotion activity. This is a part of Vibrant Gujarat Summit 2022.
These projects are bound to create either direct or indirect employment opportunity in the state.
RIL has proposed to make Gujarat net zero and carbon free. For this RIL will invest Rs 5 lakh crore in the state over the span of 10 to 15 years for setting up 100GW Renewable Energy Power Plant and Green Hydrogen Eco-system development.
This will help assisting small and medium enterprises (SMEs) to thrive and encourage entrepreneurs to embrace new technology to capture use of Renewable Energy and Green Hydrogen.
This is done keeping Prime Minister narendra Modi’s vision. The process of scouting land for 100GW renewable energy has been initiated in Kutch, banaskantha and Dholera.
The company has requested for 4.5 lakh acres of land in Kutch. RIL has said it will invest another ₹60,000 crore in setting up new energy manufacturing-integrated renewable manufacturing — solar PV module (manufacture of polysilicon, wafer, cell and module); electrolyzer; energy-storage battery; and fuel cells.
Further, ₹25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years. RIL has also proposed to invest ₹7,500 crore over 3 to 5 years for Jio Network upgradation to 5G and another ₹3,000 crore over 5 years in Reliance Retail.