Reliance's first New Energy Gigafactory to start making solar modules by 2024-end

 

  • Reliance's first New Energy Gigafactory to start making solar modules by 2024-end
  • RIL anticipates that the green power segment will become a key growth driver, potentially surpassing other business sectors over the next 5 to 7 years. 
  • Additionally, RIL plans to develop a local supply chain to enhance self-sufficiency and reduce dependence on imports.
  • Prakash Diwan, Market Expert, said the new energy business is extremely exciting in terms of where it's positioned. He said the statement made during the AGM clearly indicated that value creation will begin by the end of the year.
  • The Gigafactory is part of RIL's broader commitment to sustainability and clean energy. The company said it is expanding its portfolio to include a comprehensive range of renewable solutions, encompassing solar energy, energy storage systems, green hydrogen, bio-energy, and wind energy.
  • "With a comprehensive range of renewable solutions including solar, energy storage systems, green hydrogen, bio-energy and wind, the New Energy business is poised to become a significant contributor to global clean energy transition,” RIL Chairman Mukesh Ambani stated.
  • At the company's 47th Annual General Meeting, Ambani had said, "We have fully integrated and indigenized HJT technology from REC Singapore to develop 1st Gen bifacial solar panels with over 26% cell efficiency. Solar production will start with an initial 10 GW capacity. We have begun building an advanced chemistry-based battery manufacturing facility in Jamnagar, with a 30 GWh annual capacity, set to begin production in the second half of next year."
  • "And then for the next 24 months, every quarter, there's going to be a development in terms of the stage at which the production keeps on expanding. So, every quarter we'll have something which will add up and something which we can start looking ahead to. And that means that by somewhere close the December-end or between December and March is when most of this will start getting pencilled in," Diwan said.

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