To further push the boundaries of India’s renewable resource manufacturing capabilities, Reliance today made a major announcement at its 2021 Annual General Meeting (AGM). In addition to announcing the JioPhone Next developed in partnership with Google, Reliance also announced “Solar Giga Factory” the creation of an area of 5,000 acres. complex with four Giga Factories integrated to produce renewable energy in India.
Nicknamed the Dhirubhai Ambani Green Energy Giga Complex, the facility will be based in Jamnagar, Gujarat. It will be responsible for producing solar energy and green hydrogen and aims to make India one of the world’s largest exporters of renewable resources.
Reliance’s CEO and richest person in the country, Mukesh Ambani, took the stage to explain the company’s three-part plan to establish its new energy ecosystem. The establishment of the four Giga factories is the first part of the plan.
“These [Giga Factories] will manufacture and fully integrate all the critical components of the new energy ecosystem”, said Ambani during the Reliance AGM 2021.
“One, for the production of solar energy, we will build an integrated solar photovoltaic module factory. Two, for the storage of intermittent energy, we will build an advanced energy storage battery factory. Three, for the production of green hydrogen, we will build an electrolyzer factory. Four, for converting hydrogen for mobile and stationary power, we will build a fuel cell factory,” further added the Reliance CEO.
Speaking of the company’s solar plans, the company will manufacture low-cost, high-efficiency solar cells at the Giga plant in Jamnagar. Mukesh Ambani aims to make its solar panels and energy storage units affordable, making it affordable for rural Indians.
Reliance aims to produce 100 gigawatts (GW) of the country’s target of 450 gigawatts of renewable energy by 2030. This will come in the form of rooftop installations and decentralized access in rural areas.
To ensure the perfect establishment of the manufacturing plant, Reliance will invest within Rs. 60 crore in its new energy and materials business over the next three years. Also, the company will invest additional Rs. 15 billion rupees in value chain, partnerships and future technologies, bringing the cumulative investment to 75 billion rupees.
Now, it’s clear from the company’s plans that it is trying to rival Tesla, the world’s electric car maker’s solar projects. However, it is too early to call Reliance a “rival” to Tesla. With its solar plans, the company seeks to replicate the success of Tesla with its solar projects in India in the coming years. Therefore, the establishment of a giga solar plant seems a suitable starting point for Reliance to make India a major source of renewable resources in the modern world.
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