Good news for Mukesh Ambani as Reliance to become world No 2 in…, plans to build bigger…

India’s richest and one of the world’s richest men, Mukesh Ambani’s company Reliance Industries is planning something big in the clean energy segment. The company, which is already dominating most of the sectors, is eyeing dominating another segment by becoming number two in the world in the solar photovoltaic modules segment. Notably, Reliance is dominating several industries such as FMCG, oil, telecom, among others. It is also the largest listed company in India and has a market cap of Rs 19,07,266.69 crore.

RIL is mulling over starting a factory for the same this year. This will go hand in hand with the company’s clean energy goals. Notably, Reliance has set a goal for itself, aiming to become net-zero carbon by 2035.

Reuters reported that Reliance will start its solar photovoltaic modules factory this year. “We are today building three bigger factories… to produce clean energy requirements,” Partha P Maitra, President of Reliance’s strategy and Initiatives, was quoted as saying.

The Ambani company is focusing on scaling up solar module capacity to 20GW per year. The RIL executive added that the company is going to start its battery and micro power electronics factory in 2026.

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

While sharing the company’s Q4 FY25 results, Chairman Mukesh Ambani said the company has set a solid base for its renewable energy and battery projects this year. He added that in the next few months, these projects will move from planning to actual operations.

“During FY25, we have laid a strong foundation for our projects in renewable energy and battery operations. In the coming quarters, we will see the transition of this business from incubation to operationalisation,” Mukesh Ambani said while sharing the company’s Q4 FY25 results.

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