Mukesh Ambani is prepping up for a multi-billion dollar play in the renewable energy space encompassing hydrogen, wind, solar, fuel cells and battery as he looks to transform the energy business of Reliance Industries Ltd into one of the world’s top new energy companies by 2035.
Reliance is expected to unveil the broad contours of the renewable energy strategy including investments in October when it reports the second quarter financial results, a company official said.
The foray into the renewable energy segment could be driven by both organic and inorganic opportunities.
In July, Chairman Mukesh Ambani gave a peek into Reliance’s long-term vision of steering the company “beyond oil to chemicals” and how he is “re-imagining” the entire energy platform.
“The catastrophic impact of climate change calls for the legacy energy industry to reinvent itself on a war footing. Furthermore, the world needs access to clean and affordable energy and this must be met