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RIL's clean energy investment may create $36 billion business in five years: Report

RIL plans to set up four giga factories, aiming to install 100 gigawatt of solar energy capacity by 2030.

July 16, 2021 / 02:08 PM IST
RIL plans to set up up four giga factories, aiming to install 100 giga watt of solar energy capacity by 2030.

RIL plans to set up up four giga factories, aiming to install 100 giga watt of solar energy capacity by 2030.

 
 
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Reliance Industries's (RIL) Rs 75,000 crore planned investment in clean energy could create a business worth $36 billion, according to Bernstein.

The investment will be value-accretive and create a new energy business valued at Rs 395 per share by 2026, according to a Bloomberg story citing the Bernstein report.

Also read: RIL AGM 2021 | Reliance to build 4 giga factories, invest Rs 60,000 crore in green initiatives over 3 years: Mukesh Ambani

Based on the Rs 60,000 crore capex, Bernstein estimates that the business will contribute almost 10 percent to RIL's total operating income by FY26, the report said.

RIL Chairman Mukesh Ambani had announced the investment during the company's annual general meeting on June 24. The Rs 75,000 crore will be invested over three years.

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RIL plans to set up four giga factories, aiming to install 100 gigawatt of solar energy capacity by 2030.

The conglomerate had said in 2020 that it intended to become net carbon neutral by 2035.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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first published: Jul 16, 2021 02:08 pm

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