RIL seeks int’l suitors for wind power foray

livemint.com:

MUMBAI : Mukesh Ambani-led Reliance Industries Ltd (RIL) is looking to collaborate with large international wind equipment manufacturers to set up its ambitious wind energy business. On Monday, while addressing the 46th annual general meeting, Ambani unveiled the group’s renewable energy roadmap. As part of its strategy to transition from fossil fuels to new energy, RIL will expedite the development of its green energy giga manufacturing complex in Jamnagar, Gujarat.

Moreover, it will be ramping up gas production, a crucial source for clean energy. The move has the potential to help India save $7 billion annually in gas imports. “We will be partnering with the world’s leading technology players in wind equipment manufacturing to deliver most cost-efficient solutions," said Ambani.

“One of the significant cost drivers in the manufacturing of wind blades is carbon fibre. Our foray into manufacturing carbon fibre at large scale provides a unique advantage to further integrate and reduce cost of wind turbines," he added. The move comes at a time when prominent industrial groups in Asia, responsible for over 50% of global carbon emissions, have announced multibillion dollar strategies to achieve their net-zero goals.

Ambani’s RIL is competing with the likes of Tata, Vedanta, Adani group and Larsen & Toubro in the race to go green and fulfil the primary sustainability criteria aimed at attracting long-term global funds. India’s growing population and a fast-growing economy have led to a significant rise in greenhouse gas emissions in recent decades. “This has seen India become the world’s third-largest emitter of greenhouse gases, after China and the US; in 2021, it emitted 3.9 billion metric tonnes of carbon dioxide