Gujarat Exclusive > Gujarat news > Green boost to Gujarat: Reliance Industries to invest Rs 5.95 lakh crore in green energy, other projects in state

Green boost to Gujarat: Reliance Industries to invest Rs 5.95 lakh crore in green energy, other projects in state

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  • The projects by RIL is expected to create 10 lakh employment opportunities in the State

Gandhinagar: In a major boost to Prime Minister Narendra Modi’s vision to reduce India’s carbon emissions, the Reliance Industries Limited signed an MoU on Thursday with the Government of Gujarat for a total investment of Rs 5.955 lakh crore towards green energy and other related projects.

The MoU has been signed as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the State, the company has claimed.

In a release, RIL said it proposed to invest Rs 5 lakh crore in Gujarat over next 10-15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. This will support Gujarat in becoming net zero emission and carbon-free state, it added.

Reliance Industries will also 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, the release added.

In consultation with the state government, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company has requested for 4.5 lakh acres of land in Kutch.

RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells.

Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over next three to five years. RIL has also proposed to invest Rs 7,500 crore over three to five years for Jio Network upgradation to 5G and another Rs 3,000 crore over five years in Reliance Retail.

 

 

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