Reliance Industries to commission green energy giga complex in Jamnagar in H2 of 2024
ALSO READ: Reliance Q3 Results Highlights: Jio, Retail shine; O2C revenue declines; 5 key highlights from RIL Q3 earnings Post third-quarter earnings announcement on Friday, RIL chairman and managing diRECtor Mukesh Ambani said that the “New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels." The company has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power facility at ₹5 lakh crore capex.
It has received in-principle nod for 74,750 hectares of land parcels in Kutch for green hydrogen project.. The giga complex will be among the largest integrated renewable energy manufacturing facilities in the world.
ALSO READ: Reliance Q3 results: Net profit up 11% to ₹19,641 crore; EBITDA up 17% led by oil and gas, retail segments RIL has strategically invested in ten global technology innovators with strong expertise across the new energy value chain. Through REC Solar, RIL has signed a supply pact with China-based Suzhou Maxwell Technologies to buy a high efficiency production line for HJT cells (4.8GW capacity).
In January 2023, it also signed a 5.2GW HJT module automation production pact with China-based SC Solar. Reliance Industries reported a 10.9 per cent rise in consolidated profit after tax (PAT) during the October-December 2023 quarter at ₹19,641 crore.
Its quarterly consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at ₹44,678 crore, up 16.7 per cent year-on-year. Its consolidated revenue rose 3.2 per cent at ₹248,160 crore supported by continued growth momentum in consumer businesses.Milestone
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