India's Reliance Industries to invest in renewables, batteries production in Gujurat

by Margaret Lau
Reliance chairman and MD Mukesh Ambani. Photo: Reliance Industries
India’s Reliance Industries has announced plans to invest 5.95 trillion rupees (about £59bn) to set up a series of "green energy" projects including batteries for storage sytems in the western state of Gujarat.

Reliance said the investment will span 10 to 15 years and include the setting up of a 100 GW "renewable energy power plant and green hydrogen eco-system”.

The company said it is already in talks with Gujurat’s state government to identify a site for the renewable power plant.

Reliance will also support small and medium enterprises "and encourage entrepreneurs to embrace new technologies and innovations” – and assist in Gujurat’s plans to achieve net-zero carbon emissions by 2035.

Sodium-ion deal

The company aims to produce solar modules, fuel cells and batteries for energy storage systems.

Reliance chairman and MD, Mukesh Ambani, said last year that the company would build an "advanced energy storage gigafactory” in India as part of its developing new energy business.

Earlier this month, the company’s Reliance New Energy Solar subsidiary confirmed plans to acquire UK sodium-ion battery tech developer, Faradion.

Reliance said it would use Faradion’s technology as part of its plans to develop India’s renewable energy and fast-growing electric vehicle charging market.

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