Mukesh Ambani makes big move, Reliance gets ready to build 3 big factories to build …

Mukesh Ambani’s Reliance Industries Limited (RIL): In a significant move towards making India fully reliant on clean energy, Mukesh Ambani’s Reliance Industries Limited (RIL) announced recently that it start its solar photovoltaic modules factory this year. The recent development was announced by Parth P Maitra, the President of Strategy and Initiatives at Reliance Industries Limited. Here are all the details you need to know about the recent move from Reliance.

“We are today building three bigger factories…in order to produce clean energy requirements,” Partha P Maitra, President, Strategy and Initiatives at Reliance Industries told Reuters.

The officer also said that Reliance aims to eventually scale up module capacity to 20 GW per year and its battery and micro power electronics factory will start next year.

“If it happens we will be the no.2 solar PV producer in the world. We will produce roughly 14% of total solar PV modules outside China,” the executive said.

In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) manufacturing by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026.

The solar giga factory will include manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity.

India surpasses Germany to become world’s 3rd-largest producer of wind, solar energy

In another significant development on solar energy, Union Minister for New and Renewable Energy, Pralhad Joshi announced that India is now the world’s third-largest producer of wind and solar energy, surpassing Germany. The Union minister added that the country’s solar power installed capacity reached 107.95 GW in April this year, from 82.64 GW in the same month last year, which is a 30.7 per cent growth.

India is at the forefront of global energy transition and solar power alone has grown over 30 times in the last decade, as the country achieved renewable energy targets of 2030 eight years ahead of schedule.
The country achieved its 2030 renewable energy target of 200 GW in 2022 itself — eight years ahead of schedule.

(With inputs from agencies)

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