Mukesh Ambani Announces 10GW Solar Plant Investment
Mukesh Ambani, the Chairman and Managing Director of Reliance Industries Ltd, has announced plans to set up a 10 gigawatt solar plant in Andhra Pradesh, Read for more details!
Mukesh Ambani, a billionaire and the Chairman and Managing Director of Reliance Industries Ltd, has announced plans to set up a 10 gigawatt solar plant in Andhra Pradesh. This move is part of Reliance’s strategy to invest heavily in renewable sources that can be transformed into carbon-free green hydrogen. During the Andhra Pradesh Global Investors Summit, Ambani shared that his company will be investing Rs 40,000 crore for the rollout of a high-speed 5G telephony network in the state, in addition to the renewable solar energy investment.
Reliance has previously shared plans to generate a minimum of 100 GW of electricity from renewable sources that can be converted into carbon-free green hydrogen by 2030. The company is also working on setting up giga-factories to manufacture components for the green energy value chain.
Reliance Jio, the group’s telecom arm, is working towards the rollout of a ‘True 5G’ network, with an investment of over Rs 40,000 crore. The 4G network already covers 98% of Andhra Pradesh’s population, including remote areas. Ambani is confident that the True 5G network will be completed nationwide, including Andhra Pradesh, by the end of 2023. This investment in 5G technology will open up numerous business and employment opportunities.
Reliance’s retail arm has also partnered with over 1.2 lakh kirana merchants across 6,000 villages in Andhra Pradesh, with plans to source more agri and agro-based products and manufactured goods from the state for sale throughout India.
Ambani expressed his commitment to supporting Andhra Pradesh’s accelerated all-around development, highlighting the importance of the state to India’s story and how deeply Reliance is invested in it. With these investments in renewable energy, telecommunications, and retail, Reliance aims to continue being a steadfast partner to the government and people of Andhra Pradesh.