NEW DELHI: Mukesh Ambani-led Reliance Industries Limited (RIL) on Thursday informed that it has signed an MoU with the Gujarat government for a total investment of Rs 5.955 lakh crore to set up 100 GW renewable energy power plant and green hydrogen eco-system development in the state.
The company said this is part of the investment promotion activity for Vibrant Gujarat Summit 2022. With this tie-up, RIL expects to create 10 lakh direct or indirect employment opportunities in the state. “To make Gujarat net-zero and carbon-free, RIL proposes to invest Rs 5 lakh crore in the state over the span of 10 to 15 years to set up 100 GW renewable energy power plant and green hydrogen eco-system development,” said the company in a statement.
As per the collaboration, RIL will develop an eco-system for assisting small and medium enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of renewable energy and green hydrogen.
It has already started the process of scouting land for 100 GW renewable energy power projects in Kutch, Banaskantha and Dholera. The company has requested 4.5 lakh acres of land in Kutch. RIL will invest another Rs 60,000 crore in setting up an integrated renewable manufacturing unit that includes solar PV module (manufacture of polysilicon, wafer, cell and module), electrolyzer, energy-storage battery and fuel cells. The company said it will further invest Rs 25,000 crore in existing projects and new ventures over 3 to 5 years.