RIL to invest ₹5.9 lakh cr in green energy, other projects in Gujarat

Mukesh Ambani-led Reliance Industries Limited (RIL) signed an MoU today with Gujarat for a total investment of ₹5.95 lakh crore as part of the investment promotion activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct or indirect employment opportunities in the state.

“To make Gujarat net zero and carbon free, RIL proposes to invest ₹5 lakh crore in the state over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development,” a statement said.

The India’s largest private sector company will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.

RIL said its initiatives for decarbonisation and creating a green ecosystem emanate from the Prime Minister Narendra Modi’s vision. “In consultation with the government of Gujarat, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera,” the statement added.

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