Reliance Industries Limited (RIL) has signed MoU with the Government of Gujarat for a total investment of Rs 5955 billion as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will generate one million direct and indirect employment opportunities in Gujarat.
RIL proposes to invest in Gujarat over the span of 10 to 15 years to set up a 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development in order to make the state net zero and carbon free. Further, RIL is expected develop an eco-system to help Small and Medium Enterprises and encourage entrepreneurs to embrace new technologies and innovations that will lead to the captive use of renewable energy and green hydrogen. RIL has begun the process of scouting land for a 100 GW renewable energy power project in Kutch, Banaskantha, and Dholera in consultation with the Gujarat government. In Kutch, the company has requested 450,000 acres of land.
According to reports, RIL will invest another Rs 600 billion in setting up New Energy Manufacturing-Integrated Renewable Manufacturing. This includes Solar PV Module (manufacture of Polysilicon, wafer, cell, and module), electrolyser, energy-storage battery and fuel cells. RIL will invest an additional Rs 250 billion in existing projects and new ventures over the next 3 to 5 years.