We are exploring new and advanced electrochemical technologies that can be used for large-scale grid batteries to store the energy that we create: Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited
Over the last decade, Mukesh Ambani has moved to remake Reliance Industries Ltd (RIL) with a singular objective: To reduce its dependence on its mainstay hydrocarbons business. At this year’s annual general meeting (AGM), the 64-year-old chairman took another step in that direction.
On display was a bold plan to move into the green energy space with an investment of ₹75,000 crore. While this would be supplemented with government grants in the form of production-linked incentives, the sheer scale has the potential to catapult the company into the largest green energy business in India over the next decade. It also dovetails with its plan to become a carbon-zero business by 2035.
(This story appears in the 30 July, 2021 issue of Forbes India. To visit our Archives, click here.)