Reliance Industries Inks MoU with Gujarat Government on Green Projects

Article By : Reliance Industries Ltd

RIL has signed a MoU with the Gujarat Government for green projects in the state.

Reliance Industries Ltd (RIL) has signed a memorandum of understanding (MoU) with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/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 100GW renewable energy power plant and green hydrogen ecosystem development. RIL will develop an ecosystem 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.

RIL’s initiatives for decarbonization and creating a green ecosystem emanate from the vision of Hon’ble Prime Minister Shri Narendra Modi.

In consultation with the Government of Gujarat, RIL has started the process of scouting land for the 100GW renewable energy power project in Kutch, Banaskantha, and Dholera. The company has requested for 4.5 lakh acres of land in Kutch.

RIL will invest another Rs 60,000 crore in setting up new energy manufacturing-integrated renewable manufacturing: (1) solar PV module (manufacture of polysilicon, wafer, cell and module); (2) electrolyzer; (3) energy-storage battery; and, (4) fuel cells.

Further, Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over the next three to five years. RIL has also proposed to invest Rs 7,500 crore over three to five years for Jio Network upgradation to 5G and another Rs 3,000 crore over five years in Reliance Retail.

 

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