Reliance AGM 2023 | Solar giga-factory at Jamnagar to be ready by end of 2025: Mukesh Ambani

"We will be deploying leading-edge heterojunction technology for manufacturing one of the highest-efficiency solar PV cells and modules globally, for utility scale and roof-top power generation. We will further continue to innovate and maintain global leadership," he said.

RIL expects the green power segment to emerge as a growth engine for the company that could potentially outperform other businesses in the next 5-7 years.

RIL aims to be net carbon zero by 2035. The company is developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres at Jamnagar, comprising four giga factories. These include an integrated solar photovoltaic module factory, an advanced energy storage battery factory for intermittent energy, an electrolyser factory for the production of green hydrogen and a fuel cell factory for converting hydrogen into motive and stationary power.

Wind Energy

Ambani said RIL will also pursue wind power generation, including offshore wind which has not yet taken off in India.

"Reliance will leverage its proven capability in exploring and producing oil and gas from deep and ultra-deep water blocks in related renewable energy areas such as offshore wind and geothermal," he said.

Ambani said RIL has made "significant progress" in developing a manufacturing ecosystem critical to achieving cost-efficient wind power generation at giga scale.

India currently has a total capacity to manufacture 10 gigawatts (GW) of equipment such as turbines for wind energy generation. One of the significant cost drivers in the manufacturing of wind blades is carbon fibre.

"Our foray into manufacturing carbon fibre at large scale provides us with a unique advantage to further integrate and reduce the cost of wind turbines. In addition, we will be partnering with the world’s leading technology players in wind equipment manufacturing to deliver the most cost-efficient solutions," he said.

"We will further leverage our engineering and construction capabilities, along with our giga-scale manufacturing ecosystem, to accelerate and enable installation of at least 100 GW of renewable energy generation by 2030," Ambani said.

Round-the-clock renewable energy 

Integration of energy storage with wind and solar power generation is critical to provide grid-connected, round-the-clock electricity.

Ambani said RIL is well on its way to prove this integration at megawatt (MW) scale in the next few quarters at Jamnagar. "This will be followed by grid-scale deployment of batteries to convert intermittently captured photons into electrons and make them available round the clock for our captive requirements, as well as for India’s growing energy needs," he said.

Rs 75,000 crore for new energy manufacturing capacities

Ambani said RIL is progressing well to deploy its committed capital of Rs 75,000 crore to build its new energy manufacturing ecosystem. He had committed the capital in the 44th AGM of RIL in 2021.

"This will enable us to accelerate giga-scale production for round-the-clock power and for large-scale green hydrogen production for green chemicals manufacturing, as well as for green mobility. We will continue to invest in technology and talent," he said.

Transitioning to net carbon zero and building a sustainable chemicals business, according to RIL, will result in increased revenue, reduced energy costs, and improved profitability for the company. It will also provide a near-perennial growth platform in India and overseas for RIL's materials and energy business, Ambani said.

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