- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Mukesh Ambani plans next move after success of Akash Ambani's Jio, Isha Ambani's Reliance Retail,can earn USD 15 billion
Sanford C Bernstein report highlighted that Mukesh Ambani’s Reliance has the balance sheet but it is falling short on technology and knowledge when it comes to green energy.
Updated : Jun 26, 2023, 01:40 PM IST
 "Mukesh Ambani plans next move after success of Akash Ambani's Jio, Isha Ambani's Reliance Retail, can earn USD 15 billion")
TRENDING NOW
)
This 'small' film was rejected by 5 directors, was declared flop before release, became sleeper hit, earned Rs 70 crore
)
Meet Muslim actress, who was called 'sweeper' by Raj Kapoor, she quit non-veg food to play Radha, her son is...
)
Meet IAS officer who had 57 postings in 33 years, with just 5 months to retire he has been assigned key role in...
)
Despite getting married to Sobhita Dhulipala, Naga Chaitanya retains romantic poster with ex-wife Samantha Ruth Prabhu
)
Kareena Kapoor rolls her eyes at Abhishek Bachchan at an event in viral video, netizens say 'this is curse of...'
)
BIG update on JioHotstar domain: After Delhi engineer, Dubai siblings, Mukesh Ambani's Viacom 18 finally gets...
)
Shillong Teer Results TODAY December 4, 2024 Live Updates: Check lucky winning numbers, prize money
)
Vikrant Massey breaks silence on his 'retirement' announcement, says his post was misread: 'I'm not...'
)
'My life is not fairytale...': Aishwarya Rai's statement goes viral amid divorce rumours with Abhishek Bachchan
)
Shatrughan Sinha reacts to Vikrant Massey's temporary break from acting: 'Aaj kal be bache zyada...'
)
Govinda's daughter on actor's 'toxic' relationship with Krushna Abhishek, reacts to their reunion: 'I don't speak...'
)
Ahead of Naga Chaitanya, Sobhita's wedding, fans ask Samantha Ruth Prabhu to delete pics of ex-husband: 'She is still..'
)
'Tauba Tauba': Brothers dance to Vicky Kaushal's song on sister's sangeet takes internet by storm, watch viral video
)
Vikrant Massey retires from acting: A look at his net worth, iconic roles, family life
)
Bryan Johnson, age-reversing millionaire, visits Mukesh Ambani's Antilia, shares pic with Shloka Mehta
Mukesh Ambani’s Reliance Industries Ltd (RIL) may earn USD 10-15 billion by 2030 from its new energy business, according to a report by US-based securities firm Sanford C Bernstein. The report, however, added that Mukesh Ambani, India’s richest person, will have to collaborate with other companies to overcome the challenges related to technology.
"By 2030, we estimate RIL could capture 60 per cent, 30 percent and 20 per cent of solar, battery and hydrogen target market respectively. RIL plans to have 100GW of installed solar capacity by 2030 which is 35 per cent of India's targeted capacity of 280 GW but represents 50 per cent incremental share," said the US-based securities firm.
The report mentioned that Reliance is planning to use its own cash flow to fund capex and keep net debt to Ebitda (earning before interest, tax, depreciation and amortisation) at under 1 times (0.6x in FY23).
"Based on our assumptions, we estimate RIL can achieve around $10-15 billion of revenue from New Energy business in 2030 which represents roughly 40 per cent of the market. Our assumptions for the New Energy business target market are aligned with current domestic energy policies and our expectation of India's EV adoption in India,” said Bernstein.
The report highlighted that Mukesh Ambani’s Reliance has the balance sheet but it is falling short on technology and knowledge when it comes to green energy. "While it is easy to dismiss their ability to pull it off, Reliance has shown they can move into new verticals successfully. We think the same is true here. Reliance however cannot afford to spend a year in R&D and instead have to make strategic investments in key companies which will enable them to start building capacity in India," it said.
Mukesh Ambani’s eldest son Akash Ambani is currently the chairman of Reliance Jio, while his daughter Isha Ambani is overseeing Reliance’s retail operations.
