RIL to take a position Rs 75,000 crore in new power biz over subsequent 3 yrs

Diversified enterprise conglomerate Reliance Industries Ltd (RIL) on Thursday introduced the corporate would make investments Rs 75,000 crore in new power enterprise over the following three years.
“Our overall initial investment from our own internal resources in the new energy business will be Rs 75,000 (over $10 billion) crore in 3 years. We will invest Rs 15,000 crore in value chain, partnerships and future technologies, including upstream and downstream industries,” RIL chairman & managing director Mukesh Ambani stated whereas addressing the annual basic assembly.
Ambani stated Yasir Al-Rumayyan, chairman of Saudi Aramco and the governor of the Public Investment Fund, will be a part of the board of RIL as an impartial director. “I expect our partnership to be formalised in an expeditious manner during this year, after obtaining required regulatory clearances,” he stated on formalising the much-awaited tie-up with Aramco.
Divulging particulars about his new power plans, he stated, “Reliance will establish and enable at least 100 GW of solar energy by 2030. A significant part of this will come from rooftop solar and decentralised solar installations in villages. These will bring enormous benefits and prosperity to rural India.” Solar power is offered solely through the day, whereas energy is required around the clock. “Therefore, storage is an important piece of the puzzle to solve. For this, we will launch our second initiative — an Advanced Energy Storage Giga Factory,” Ambani stated.
“We are exploring new and advanced electro chemical technologies that can be used for such large-scale grid batteries to store the energy that we will create,” he stated. RIL will collaborate with world leaders in battery know-how to attain the very best reliability for round the clock energy availability by means of a mix of era, storage, and grid connectivity, he stated.
Ambani additionally introduced that Google and Jio groups have collectively developed a smartphone — Jiophone Next — which might be launched on September 10.

On the Jiophone Next smartphone, he stated it’ll assist your complete suite of functions from each Google and Jio in addition to the Android Play Store by means of which customers could have entry to your complete gamut of Android apps. It is powered by an optimised model of the Android Operating System, that has been collectively developed by Jio and Google, particularly for the Indian market, he stated.
“While being ultra-affordable, the smartphone is packed with cutting-edge features like the voice assistant, automatic read-aloud of screen text, language translation, smart camera with augmented reality filters and much more,” he stated. “We are delighted to announce a new 5G partnership with Reliance Jio to help Indian consumers connect to a faster and better internet and support businesses in their digital transformation and help Jio build new services in sectors like health. education and more. As part of this collaboration, Reliance will also shift its core retail businesses to Google Cloud infrastructure which will enable them to scale up and improve customer experience.” stated Sundar Pichai, CEO, Google and Alphabet.

RIL’s third initiative — an Electrolyser Giga Factory — will manufacture modular electrolysers of highest effectivity and lowest capital price. “These can be used for captive production of green hydrogen for domestic use as well as for global sale,” he stated.
He stated the fourth initiative would be the Fuel Cell Giga manufacturing unit. “A fuel cell uses oxygen from the air and hydrogen, to generate electricity. The only emission of this process is non-polluting water vapour,” he stated.