Reliance Aims To Become Big Clean Energy Provider: Ambani

Reliance chairman said in the coming decades, the world will see a transition from fossil fuels to clean, green and renewable energy sources.

India’s Reliance Industries Ltd will become a major provider of clean energy in the country, Chairman Mukesh Ambani said, as the South Asian nation transitions to renewable energy sources from fossil fuels.

India is one of the world’s biggest users of coal, and renewable energy such as solar power is a priority for Prime Minister Narendra Modi’s government.

While speaking at a function to mark 40 years of the company Ambani said, “Can Reliance become a leading provider of clean and affordable energy to India? Yes we can and yes we will.” He said in the coming decades, the world will see a transition from fossil fuels to clean, green and renewable energy sources.

Remembering his father’s legacy on company’s 40th anniversary Mukesh Ambani said, “It is because of him that Reliance has grown – from 1 employee to over 2,50,000 employees; from initial investment of Rs 1000 to a company of over Rs 6 lakh crore, and from operations in only one city to 28,000 cities and towns, and over four lakh villages in India and across the world.”

Reliance, owner of the world’s biggest refining complex and also a leading petrochemicals player, expanded its tie-up with BP earlier this year to meet India’s rising fuel and renewable energy demand.

Reliance can also be a global producer of innovative materials and among the top 20 companies in the world, Ambani said. He didn’t give details.

Source: With inputs from Reuters