Mukesh Ambani revealed that Reliance Industries has become the largest bio-energy producer in India when it comes to the company's indigenous developed technology.
Mukesh Ambani, the richest person in India, is the chairperson of India’s most valuable company Reliance Industries which has a market cap of more than Rs 16.64 trillion. The company has a range of subsidiaries that are involved in multiple sectors. One of the sectors that Mukesh Ambani’s Reliance Industries has a huge presence in is the energy sector. The billionaire is betting big on green energy and now he is reportedly in talks with large sugar mill operators for his next big investment. As per a report by the Economic Times, Mukesh Ambani aims to procure sugarcane press mud from large sugar mills to produce compressed biogas (CBG).
Last month, Mukesh Ambani revealed that Reliance Industries has become the largest bio-energy producer in India when it comes to the company's indigenous developed technology. “Reliance is carrying out this responsibility with multiple initiatives in new energy, including bio-energy. India has the potential to become the largest producer of bioenergy in the world. We target to establish 100 compressed biogas (CBG) plants in the next three years, consuming 5.5 million tonnes of agricultural residue and organic waste," he said at the Bengal Global Business Summit in Kolkata.
“We will also help farmers to grow energy plantations on a large scale. This would help mitigate nearly 2 million tonnes of carbon emissions and produce 2.5 million tonnes of organic manure annually.” he added. Currently, Reliance Industries operates a CBG plant in Uttar Pradesh’s Barabanki. It has also set up two demo units for CBG at Jamnagar.
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