RIL AGM: Mukesh Ambani Sheds Some Light On New Energy, Compressed Biogas, Wind Power Plans

Mukesh Ambani on Monday said that Reliance Industries is progressing well to deploy its committed capital of Rs 75,000 crore to build a New Energy manufacturing ecosystem. At the 46th AGM, Ambani said this will enable RIL to accelerate giga-scale production for round-the-clock power and large-scale Green Hydrogen production for green chemicals manufacturing, as well as for green mobility. Further, Ambani also spoke about the company's Compressed Biogas and Wind Power plans.

New Energy:

On New Energy business, RIL said, "We are progressing well to deploy our committed capital of Rs 75,000 crore to build our New Energy manufacturing ecosystem. 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."

He said RIL will continue to invest in technology and talent. Also, the company will collaborate with global technology and product companies including start-ups focused on commercialising emerging and disruptive technologies.

"We are rapidly adding to our rich talent pool of several thousand scientists, engineers, and innovators, drawn from countries around the world," Ambani added.

He added, "Our transition to Net Zero and building a sustainable chemicals business will result in increased revenue, reduced energy costs, improved profitability, and providing a near perennial growth platform in India and overseas for our Materials and Energy Business."

Reliance is uniquely positioned to offer a practical solution to the serious 'Energy Trilemma' India has been facing. Let me explain. He added, "The 'Energy Trilemma' demands action to overcome three challenges:

- One, Affordability of Energy - How to ensure that every citizen and every economic activity in India has access to adequate, most affordable energy.

- Two, Sustainability of Energy - How India can rapidly transition from fossil fuel-based energy to Clean and Green Energy.

- Three, Security of Energy - How the expanding needs of a fast-growing Indian economy can be de-risked from geopolitical rivalries, conflicts and potential supply disruptions.

"Reliance's New Energy and New Materials business squarely addresses this trilemma," Ambani said. He further explained green energy is becoming affordable because its costs are already much less than those of non-renewables, and they will come down further. Also, green energy is sustainable because the sun and wind are never going to disappear. Additionally, green energy is secure because India will no longer be dependent on large-scale imports for its energy needs.

Furthermore, He added, "Reliance will have indigenous technology ownership and manufacturing capabilities. In fact, Reliance has a golden chance to enable India to transform itself from a net energy importer to a net energy exporter. Therefore, as I look to the future, I can clearly see Reliance creating substantial wealth for India and for all our shareholders in perpetuity."

Reliance's Compressed Biogas and Wind Power plans:

In this regard, Ambani said, "After setting up two demo units for Compressed Biogas (CBG) at Jamnagar, we have commissioned the first commercial-scale CBG plant at Barabanki in UP in a record time of just 10 months. We will rapidly scale this up to 25 CBG plants across India. Our target is to establish 100 such CBG plants in the next 5 years, consuming 5.5 million tonnes of agro-residue and organic waste, thereby mitigating nearly 2 million tonnes of carbon emissions, and producing 2.5 million tonnes of organic manure annually. This would result in a reduction of about 0.7 MMTPA of imported LNG."

Further, he said, "We will also pursue Wind Power generation. Towards this, we have made significant progress in developing a manufacturing ecosystem critical to achieving cost-efficient Wind Power generation at giga scale."