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Tuesday, Sep 27, 2022

Ambani pegs green energy biz to outshine other Reliance units

According to chairman & managing director Mukesh Ambani, RIL has embarked on this journey with a “vision to repeat” the feat it achieved in wireless broadband.

RIL had started its green transformation in FY22 and at a scale which will make India the world’s leading green energy producer. (Reuters/File)

Reliance Industries (RIL) expects green energy, the new growth engine for the group, to outshine its other businesses in 5-7 years, even as the company would expand its existing businesses to newer frontiers.

According to chairman & managing director Mukesh Ambani, RIL has embarked on this journey with a “vision to repeat” the feat it achieved in wireless broadband. “Over the next 12 months our investments across the green energy value chain will gradually start going live, scaling up over the next couple of years,” he said in the company’s annual report.

RIL had started its green transformation in FY22 and at a scale which will make India the world’s leading green energy producer. In June last year, the business conglomerate announced plans to invest $10 billion in renewable energy space over the next three years.

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First published on: 09-08-2022 at 01:32:58 am
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