Reliance in CleanTech: Energy is the new Data for the oil-to-telecom conglomerate

We have heard the catchphrase - "Data is the new Oil" implying internet connectivity and consumer database will be the new focus of companies expanding their tech portfolio. But, for a company like Reliance, which owns almost 40% of the internet subscriber market share, metaphorically speaking, data as the new oil is an age-old concept.

The company, in the 44th AGM, announced that it aims to become Net Carbon Zero by 2035. In his own words, Mukesh Ambani stated that he presents an "ambitious strategy and roadmap" for implementing the CleanTech vision. He further announced the company’s venture into green energy with the development of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat.

Spread over 5000 acres, it will house renewable energy manufacturing facilities, Ambani stated. “We plan to build four Giga factories to manufacture and integrate all critical components of a new energy ecosystem; solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory,” said Mukesh Ambani at the AGM 2021.

Ambani said that he plans to invest over Rs 60,000 crore over the next three years in the initiative. He also announced an additional investment of Rs 15000 crore in the value chain, partnerships and future tech; thus, taking the overall investment in the New Energy business to Rs 75000 crore in 3 years. The company plans to create an end-to-end renewable energy ecosystem. Thus, Further, the mission begins with the investment in a world-scale carbon fibre plant. The plant will support Reliance's hydrogen and solar ecosystems.

Reliance is “evolving a vision for New Materials and Green Chemicals,” said Ambani.

Jamnagar was the cradle for our old energy business; Jamnagar will also be the cradle for our new energy business, Mukesh Ambani announced. “In 2016, we launched Jio to bridge the Digital Divide in India. Now, in 2021, we are launching our new energy business to bridge the green energy divide in India and globally,” he added.

He further added that the plan of building a New Energy and materials ecosystem and decarbonising and repurposing the existing O2C business is a multi-decade growth path for our company. The company aims to use solar energy on an economically attractive basis. It aims to decarbonise the existing O2C business and accelerate its journey to become net carbon zero. It will also use Green Hydrogen and CO as raw materials to develop a road map for new Green Chemicals; two Green Fertilizer and e-fuels.