Mukesh Ambani's Rs 1819000 crore company set to commission new energy giga complex this year in...

Billionaire Mukesh Ambani has been expanding his billion-dollar empire in various sectors. The 66-year-old is the richest person in Asia. His firm Reliance, which has a market cap of Rs 1819000 crore, will now commission a new energy giga complex in 2024. The company said that the Dhirubhai Ambani Green Energy Giga Complex will be commissioned in Gujarat's Jamnagar in the second half of 2024. It will be among the largest integrated renewable energy manufacturing facilities in the world,  the company said in an earnings statement and investor call.

The giga complex is spread over 5,000 acres and comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. Post announcement of third-quarter earnings on Friday, Ambani stated, "I am confident that Reliance's New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels." 

Reliance has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power at Rs 5 lakh crore capex. It has received in-principle approval for 74,750 hectares (ha.) of land parcels in Kutch for green hydrogen. The firm has strategically invested in 10 global technology innovators with strong expertise across the new energy value chain.

(With inputs from PTI)

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