RIL Launches Pilot Solar and Battery Storage Projects in Jamnagar.

Reliance Industries (RIL) has commenced pilot projects for its solar and battery energy storage initiatives in Jamnagar. These pilots precede the anticipated start of production of 9.6 GW solar modules later this year.

The Mukesh Ambani-led conglomerate is developing a vast giga complex, spanning over 5,000 acres, as part of its new energy business, with a significant investment exceeding $10 billion. Sources suggest that the company is on track to begin production soon.

In its first quarter results for FY25, the company briefly mentioned its new energy business, highlighting significant progress in the implementation of new energy giga factories without delving into specifics. The green energy business, encompassing renewable energy and new technologies like hydrogen, is expected to drive the next phase of growth for Reliance Industries.

While its consumer-facing businesses, such as retail and digital, remain in the growth phase, they have reached a steady state and are expected to continue expanding through customer-focused initiatives.

The green energy ecosystem's main components include integrated solar modules, a battery storage system, and renewable energy feeding into modular electrolyzers for green hydrogen production, which will be converted into electricity via fuel cells.

Reliance Industries has strategically prepared for the entire value chain through ten strategic acquisitions totaling approximately $1.5 billion. In January, the company secured a 74,750-hectare land agreement with the Gujarat government for green hydrogen production. In April, it acquired six plots from the Deendayal Port Authority to establish units for producing green hydrogen and green ammonia. Additionally, the company participated in the rebidding of the Production-Linked Incentives (PLI) scheme for manufacturing 10 GWh Advanced Chemistry Cells and had previously secured PLI for 5 GWh ACC storage in 2022, along with PLIs for solar modules.

Nuvama Research has valued Reliance Industries' new energy business at $20 billion based on FY26 sales, accounting for 12 percent of the company's total valuation.

HBL