Billionaire Mukesh Ambani on Friday announced plans for setting up a 10 gigawatt solar plant in Andhra Pradesh as his oil-to-telecom conglomerate bets big on renewable sources which can be converted into carbon-free green hydrogen.
Speaking at the Andhra Pradesh Global Investors Summit, Ambani, Chairman and Managing Director of Reliance Industries Ltd, said his group is investing Rs 40,000 crore for rollout of ultra-high speed 5G telephony network in the state.
“This morning, I am happy to announce that we will continue our investments and we will invest in 10 gigawatt of renewable solar energy in the state of Andhra Pradesh,” he said without giving investment details. Reliance had in 2021 announced plans to create by 2030 capacity to generate at least 100 GW of electricity from renewable sources, which can be converted into carbon-free green hydrogen.
It is also investing in setting up giga-factories to manufacture components for the green energy value chain.
Ambani said his company has invested more than Rs 1.5 lakh crore in developing oil and gas discoveries it made off the Andhra coast and in supporting gas pipeline infrastructure to transport the fuel to consumers.
