Top News

New Delhi: In a major development the Mukesh Ambani-led Reliance Industries’ (RIL) new energy venture which costs Rs 1.5 lakh crore will start contributing to the company’s topline and bottom line next year. As per Economic Times report the company is setting up large scale round-the-clock renewable energy (RE-RTC) projects with hydrogen wind solar fuel cells and batteries. We are looking to finally start adding to the revenue and Ebitda of Reliance by starting our first production of RERTC next year Sriram Ramakrishnan president battery and energy systems Reliance Industries said on an analyst call on Friday. It is important to note that Reliance Industries has commissioned four PV module lines and the first cell line is likely to be commissioned soon. Talking about the project Sriram Ramakrishnan further added that the companys solar cell gigafactories will be starting up next month at Jamnagar and its first battery factories will begin operations by early next year. So this is building the complete value chain including glass for the PV modules which again would be one of the largest glass factories in India he said. Here are some of the key details: The companys solar cell gigafactories will be starting up next month at Jamnagar and its first battery factories will begin operations by early next year. RIL is setting up the Dhirubhai Ambani Green Energy Giga Complex (DAGEC) in Jamnagar. This entails five giga factories for solar and battery. The company said it has secured all key equipment for phase 1 manufacturing sourcing globally. The new energy business is crucial as the company has committed to a target of achieving net-zero carbon status by 2035. The company is looking to build a complete manufacturing ecosystem around both solar and battery This will give it supply chain resiliency as it looks to scale up renewable energy round-the-clock. We will start with the battery energy storage system gigafactories followed by the pack factories which supplies the battery packs for these containerised energy storage systems and then backward integrate into battery cells said Ramakrishnan.