RELIANCE LIMITED INVESTED CRORES IN GUJARAT FOR GREEN ENERGY PROJECTS
On Thursday Ambani led Reliance limited signed a memorandum of understanding with the Gujarat government to invest 5.95 lakh crore rupees in green energy projects to promote renewable energy use as a part of investment promotion activity for the deferred vibrant Gujarat summit 2022. As per the memorandum of understanding, reliance decided to invest 5.95 lakh crore in the next 10 to 15 years to establish 100 GW of renewable energy power plants and a green hydrogen ecosystem to achieve net-zero and carbon-free for Gujarat state by 2035.
The conglomerate of oil and telecom wanted to establish an ecosystem for existing small and medium enterprises (MSME) and to encourage other businesses to accept new technologies and innovation, which leads to the use of renewable energy and green hydrogen. Reliance industries limited extended the project in the collaboration with Gujarat government by starting searching land in Kutch, Banaskantha, and Dholera for the establishment of the renewable energy power plant and demanded 4.45 lakh acres of land from the state government Except this Reliance India Limited will invest 60,000 crores more in Gujarat, For new energy manufacturing, integrated renewable, solar photovoltaic module by the production of polysilicon, wafers cells, and modules. electrolytes, energy storage batteries, and fuel cells.
This project also contributes to the generation of 10 lakh direct and indirect job opportunities in Gujarat. A private company will also invest Rs7.500 crore in the span of 3 to 5 years for the up-gradation of the Jio network into 5G and 3,000 crores will be invested in reliance for five years. This project will increase the proficiency of Reliance India limited to achieve its target of 100% carbon neutrality by 2035. The mission receives its fund from the oil refining and petrochemical industry.
The company also mentions that the initiative of decarbonization and a green ecosystem is inspired by the vision of PM Narendra Modi. Gautam Adani, being part of South Korean steel giant Posco, announces an increase in business opportunities in India, By setting up a green steel giant in Gujarat with an investment of $5 billion. Adani is also committed to investing $70 billion by 2030 as a contribution to the green energy value chain.