Indian conglomerate Reliance Industries Ltd (BOM:500325) is looking to deploy at least 100 GW of renewable energy generation capacity by the end of the decade, whilst boosting its sector-wide manufacturing capabilities.
Chairman and managing director (CMD) Mukesh Ambani said so at the company’s 46th Annual General Meeting (AGM) on Monday and provided updates on the activities of its New Materials and New Energy businesses.
When it comes to solar manufacturing, Reliance Industries focuses on the fast-track execution of its Dhirubhai Ambani Green Energy Giga Manufacturing Complex at Jamnagar, where the company will be producing everything from solar glass, polysilicon, ingots and wafers to heterojunction solar cells and modules. The goal is to bring the factory on-stream in a phased manner by end-2025, Ambani noted.
In wind turbine manufacturing, the company boasts its capability to produce carbon fiber at large scale for use in wind blades.
In battery production, the company is focused on completing its Gigafactory by 2026 to produce everything from battery chemicals, cells and packs, to containerised energy storage solutions. The complex will include a recycling facility, as well. While it intends to start with LFP chemistry, Reliance Industries will fast-track the commercialisation of its sodium ion battery technology. It hopes to industrialise sodium ion cell production at the megawatt level by 2025 and then rapidly scale up to the gigawatt scale.
Another renewables-related objective is to establish 100 Compressed Biogas (CBG) plants in the next five years, having already established two demo units at Jamnagar and commissioned the first commercial-scale plant at Barabanki in Uttar Pradesh.
Last but not least, Reliance Industries has created a roadmap toward achieving its targeted cost of electrolysers for green hydrogen production. According to Ambani, the company is on its way to successfully demonstrate this first at a megawatt-scale in collaboration with its technology partners. In parallel, it plans to build a fully-integrated, automated, giga-scale electrolyser factory in order to establish large-scale green hydrogen production at Jamnagar.