RIL makes wave of partnerships to shape green energy business

Mukesh Ambani’s Reliance Industries Ltd has made a wave of partnerships to give shape to its green energy business that spans solar, battery and hydrogen investments and could contribute almost 10 per cent of the company’s pre-tax profits in five years, a report said.

The company announced a wave of partnerships with REC, NexWafe, Sterling and Wilson, Stiesal and Ambri for total costs of $ 1.2 billion.

“With these investments, Reliance has acquired the expertise and technology portfolio to start to build a fully integrated end-to-end renewables energy ecosystem through solar, batteries and hydrogen,” brokerage Bernstein said in a report. “Reliance will commercialise the acquired technologies and set up manufacturing plants in India.”