Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

India’s Reliance Industries Scouting Land For 100 Gigawatts Of Solar Projects

Crude oil to broadband conglomerate Reliance Industries is reportedly planning a giga-scale venture into solar power generation. 

According to media reports, Reliance Industries is scouting for land to set up 100 gigawatts of solar power capacity. The company intends to set up this capacity by 2030. About a fourth of this capacity is likely to be used for captive consumption, while the balance may be sold either to distribution companies or commercial and industrial consumers. 

Reliance Industries generates more than half of its revenue from crude oil refining and manufacturing of petrochemicals. Last year, the company announced plans to significantly pivot towards renewable power. 

It will develop gigafactories for manufacturing solar modules, electrolyzers, fuel cells, and batteries. The company is working on a fully integrated solar module manufacturing facility in western state of Gujarat. It plans to produce polysilicon, wafers, cells, and modules at this facility. The company is eligible for production linked incentives worth $3 billion under a government scheme aimed at promoting domestic production of solar modules. 

Reliance Industries has made a number of investments over the last few months. It acquired module manufacturer REC Solar Holdings at an enterprise value of $771 million, UK-based sodium-ion battery maker Faradion, 40% stake in one of the largest solar EPC company in the world — Sterling and Wilson. It has made investments in Germany-based solar wafer manufacturer NexWafe GmbH and Massachusetts-based energy storage company Ambri Inc. 

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Clean Power

Privately owned renewable energy generation company AMP Energy has announced plans to set up a vertically integrated solar modules manufacturing facility.  According to media...

Clean Power

Welcome to another issue of our India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in...

Clean Transport

Double-decker buses are cool. Maybe it’s that they hold a lot of people, or maybe the inner child in all of us just thinks...

Clean Transport

Africa’s motorcycle sector is ripe for electrification. STIMA, a battery swapping technology company targeting the deployment of convenient battery swapping infrastructure for electric motorcycles...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.