+
Reliance India Poised for Next Phase of Renewables-Focused Growth
POWER & RENEWABLE ENERGY

Reliance India Poised for Next Phase of Renewables-Focused Growth

Indian conglomerate Reliance Industries is poised for its next growth phase and aspires to become the largest developer of renewable energy projects in the country, according to its annual report released on Wednesday.

The report noted that Reliance has strengthened its balance sheet following the previous round of capital expenditure and is prepared for the next stage of growth. Chairman Mukesh Ambani commented in the report that the company is well-positioned for further advancement.

Reliance Industries is actively monitoring financial markets to identify suitable opportunities for raising capital to support its growth strategies.

The conglomerate, which operates the world's largest refining complex in Jamnagar, Gujarat, announced in 2021 a $10 billion investment to develop its green energy portfolio and achieve its net zero carbon goal by 2035.

Similarly, Adani Group, another Indian conglomerate, is investing billions to expand its green energy initiatives and aims to increase its non-fossil fuel capacity, including solar and wind energy, to 500 gigawatts (GW) by 2030.

Reliance, which targets establishing 100 GW of renewable energy installations by 2030, plans to commence production of ingots and wafers?essential components for low-cost solar cells and modules?at its 10 GW solar photovoltaic (PV) giga factory in Jamnagar by December. The company also intends to double the capacity of this PV factory by 2026.

Indian conglomerate Reliance Industries is poised for its next growth phase and aspires to become the largest developer of renewable energy projects in the country, according to its annual report released on Wednesday. The report noted that Reliance has strengthened its balance sheet following the previous round of capital expenditure and is prepared for the next stage of growth. Chairman Mukesh Ambani commented in the report that the company is well-positioned for further advancement. Reliance Industries is actively monitoring financial markets to identify suitable opportunities for raising capital to support its growth strategies. The conglomerate, which operates the world's largest refining complex in Jamnagar, Gujarat, announced in 2021 a $10 billion investment to develop its green energy portfolio and achieve its net zero carbon goal by 2035. Similarly, Adani Group, another Indian conglomerate, is investing billions to expand its green energy initiatives and aims to increase its non-fossil fuel capacity, including solar and wind energy, to 500 gigawatts (GW) by 2030. Reliance, which targets establishing 100 GW of renewable energy installations by 2030, plans to commence production of ingots and wafers?essential components for low-cost solar cells and modules?at its 10 GW solar photovoltaic (PV) giga factory in Jamnagar by December. The company also intends to double the capacity of this PV factory by 2026.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?