Reliance Industries Limited (RIL) has signed a memorandum of understanding (MoU) with the Government of Gujarat for a total investment of Rs 5,955 billion in green energy and other projects in Gujarat.
RIL will invest Rs 5,000 billion over a span of 10 to 15 years to set up a 100 GW renewable energy power plant and green hydrogen eco-system development. RIL will invest another Rs 600 billion in setting up integrated renewable energy manufacturing comprising solar PV module, electrolyser, energy-storage battery, and fuel cells. Further, Rs 250 billion will be invested in existing projects and new ventures over the next three to five years. Besides this, RIL will spend Rs 75 billion to upgrade its Jio telecom network and invest Rs 30 billion in its retail business.