Mukesh Ambani, the chairman of Reliance Industries, announced at the 44th AGM, that the company will invest Rs 60,000 crore in building four gigafactories at Jamnagar Gigacomplex. An overall investment of Rs 75,000 crore in new green energy business will be made over the next three years. RIL said it will establish and enable at least 100 GW of solar energy by 2030.
“Age of fossil fuels cannot continue much longer, our world has only one option: rapid transition to green energy. It is not enough to be carbon neutral, we need to drastically cut emissions.We are launching a new energy business with the aim of bridging green energy divided between India and globally,” said Ambani.
Jamnagar was the cradle of the old energy business, it will now be the cradle of new energy business, he added.
With these gigafactories, Amabi seems not just going after the green energy business of Adani but also similar businesses of Tesla founder Elon Musk.
