Reliance Industries (RIL) is likely to commission a new energy giga complex in Gujarat in the second half of 2024. The company is currently engaged in building a giga complex spread over 5,000 acres in Jamnagar in the state.

The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. RIL is on track to commence new energy facilities in phases this year. The new energy giga complex is all set to be commissioned in the second half of CY24. The company expects its new energy business to play a pivotal role in the global movement for adoption of cleaner fuels.

The Dhirubhai Ambani Green Energy Giga Complex is likely to be among the largest integrated renewable energy manufacturing facilities in the world. Reliance has signed an memorandum of understanding (MoU) with the Gujarat government to set up 100 GW renewable power at Rs five lakh crore capex. It has received in-principle approval for 74,750 hectares (ha.) of land parcels in Kutch for green hydrogen.

Reliance has strategically invested in ten global technology innovators with strong expertise across the new energy value chain. It is nearing the commissioning of the first tranche of 5 GW module manufacturing capacity in mid-CY24. The company has via REC Solar signed a supply agreement with China-based Suzhou Maxwell Technologies to buy a high efficiency production line for HJT cells (4.8GW capacity). It signed a 5.2GW HJT module automation production agreement with China-based SC Solar in January 2023.

The company won production-linked incentive (PLIs) under both rounds of solar modules PLI (Round 1: USD 0.3 billion, 4GW; Round 2: USD 0.4 billion, 6GW). Reliance (apart from Greenko) is the only company to win incentives for both green hydrogen and electrolysers concluded recently. It secured incentives of USD 0.3 per kg for electrolyser capacity of 300 MW and USD 0.23 for green hydrogen capacity of 90,000 tonne. Besides, it has won PLI under ACC battery storage for 5GW capacity.