Green energy companies will surpass current ones in 5-7 years, according to Mukesh Ambani.

In just 5-7 years, the green energy sector Reliance Industries Ltd. (RIL) started last year would surpass all of its current growth engines, according to Chairman Mukesh Ambani's statement to shareholders in the company's annual report for Fiscal year (FY)- 22.

"Our investments in the Green Energy value chain will gradually begin to take effect over the coming year, ramping up over the following several years. In roughly 5-7 years, this new development engine has the potential to surpass all of our current growth engines," Ambani remarked.

At RIL's annual general meeting the previous year, Ambani unveiled plans to build the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar, Gujarat, with plans to invest $10 billion over three years in order to develop and provide a fully integrated, end-to-end renewable energy eco-system.

In the same way that India already offers wireless internet at the lowest price in the world, we will do the same with green energy over the next ten years. Additionally, these solutions will be sold to other nations to aid in their efforts to reduce carbon emissions, According to Ambani's annual report.

RIL entered into a number of collaborations, including equity investments, with domestic and international corporations last fiscal year. These corporations had distinctive technological and executional capabilities, a proven track record of innovation, and an increasing number of patents and intellectual property rights (IPRs) across the Green Energy value chain.

Companies like Ambri in the US, Faradion in the UK, and Lithium Werks in the Netherlands are among Reliance's partners in the energy storage industry.

Similar to this, RIL invested in Germany's NexWafe, a leader in the development of cutting-edge technology for the production of monocrystalline silicon wafers used for solar panel manufacturing. Additionally, it bought promoters' shares in REC Solar, a pioneer in solar panel manufacturing technology on a worldwide scale. One of the top EPC turnkey contractors for large-scale solar projects in the world, Sterling & Wilson Renewable Energy, has acquired a 40% share from RIL.

In order to commercialise hydrogen technology and create a supply chain in cooperation with other Indian stakeholders, RIL teamed up with the US-based Chart Industries to establish India H2 Alliance.

It also made a deal with Stiesdal A/S of Denmark for their cutting-edge next-generation electrolyser technology, which has the potential to significantly lower the price of creating hydrogen from clean water.

In order to establish Green Energy generation projects in every nook and cranny of India, RIL will also invest in the development of an ecosystem of thousands of small and medium size project consultants and installers across the nation. Similar to this, RIL will work independently on huge Giga Watt scale Green Energy projects for Power GenCos or significant investors.

"We are aware that the most important determinant of whether a new technology will be adopted and the extent to which it will benefit society is its affordability. Reliance started this adventure with the goal of replicating its success in wireless broadband, " said Ambani.

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