Anant Ambani appointed as Director for two Reliance solar divisions

Anant Ambani, the younger son of business magnate Mukesh Ambani, has been appointed to the board of directors of Reliance O2C, a company in which Saudi Aramco is expected to invest. He was also appointed to the board of Jio Platforms a year before that, alongside his siblings Akash and Isha Ambani. Heir to the Reliance Industries Limited(RIL) has not yet been spelt out by the owner of the multinational conglomerate, Mukesh Ambani. In the case of Mukesh Ambani, following the death of his father, RIL founder Dhirubhai Ambani, in 2002, he and his brother Anil had a succession feud. As a result of Dhirubhai not leaving a will, the family business had to be split, with Mukesh getting RIL (oil refining and petrochemicals) and Anil getting the energy, finance, and telecom units. Isha and Akash Ambani are also on the board of Reliance Retail Ventures, in addition to Jio Platforms. Both Jio Platforms and Reliance Retail Ventures had raised billions of dollars in funding and enlisted the help of global names like -- Google, Facebook, Silver Lake, and Public Investment Fund of Saudi Arabia to expand their digital and e-commerce footprints. RIL is also laying the groundwork for the initial public offerings(IPO) of Jio Platforms and Reliance Retail Ventures, which is expected to begin shortly. In addition to Reliance New Energy Solar and Reliance New Solar Energy, RIL has established five new companies since June, including -- Reliance New Energy Energy Storage, Reliance Solar Projects, Reliance Storage, Reliance New Energy Carbon Fibre, and Reliance New Energy Hydrogen Electrolysis. Their names imply that they were formed to provide sustainable energy. Each of the seven businesses has three directors. Shanker Natarajan serves as the director of all of these organisations. In June, Ambani announced in the annual shareholders meeting of RIL that the company will invest Rs 75,000 crore in clean energy over the next three years, but did not elaborate on how the green strategy will be implemented. RIL's foray into renewable energy comes more than a decade after Mukesh and Anil agreed to terminate all non-compete agreements. Image Source Also read: Reliance Power exports equipment from Andhra Pradesh to Bangladesh