Reliance industries to raise $3 billion equity

17 Feb 2022 CW Team

Reliance Industries Limited is in talks with investors on a global level for raising equity around $3 billion to boost their future plans for their renewable energy business.

The discussion is currently at a preliminary stage. The Reliance refining-to-retail conglomerate will now pick a few potential investors that include a large pension fund as well as sovereign wealth funds in the Middle East.

A long-time close associate and Reliance industries veteran, Manoj Modi is handling the discussions similar to the Jio platforms.

The discussions are on a formal level including the potential investments’ valuation and structure. The amount of the preliminary investment has been decided but the final decision can change to some extent.

The equity that will be sold by the renewable energy business of Reliance Industries has not been disclosed.

In 2020 the Jio platform raised equity of $10.3 billion via equity deals. The five investors were Facebook, Silver Lake, Vista Equity Partners, General Atlantic, and KKR.

Currently, Reliance generates over 50% of its revenue from refining and petrochemicals. They are establishing a Green Energy Giga Complex named after Dhirubhai Ambani on a 5,000 acre land parcel in Jamnagar, Gujarat. In the last year, the company mentioned that their factories will produce integrated solar photovoltaic modules and electrolyzers. They will further have fuel cells and energy storage. Reliance Industries is planning to make an investment of over Rs 75,000 crore in the green energy initiatives in the upcoming three years for being a net-zero company by the end of 2035.

Image Source

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..