Together for a greener future led by our NEW ENERGY business.
Our aim is to achieve Net Carbon Zero by 2035 through decarbonisation and New Energy. We are actively investing in and collaborating with partners to build a scalable and enabling energy ecosystem.
Vision and Mission
To build one of the world’s leading New Energy and New Materials business with the aim of bridging the green energy divide in India and globally.
~`0 CRORE
INVESTMENTS / ACQUISITIONS MADE
Building core competencies and sustainable advantage
- Full integration across the New Energy value chain
- Optimum large-scale facilities that maximise benefits supported by Artificial Intelligence, Machine Learning and Robotics
- Collective knowledge gained from various strategic partnerships across different verticals
- Leveraging internal project execution capabilities and partner skills to set up New Energy projects at record pace
- Modular approach to dovetail and integrate new technologies
- Significant captive demand for Green Energy across different businesses of Reliance
Full integration across
the New Energy value chain
(Photon 
Electrons Molecules)
Integrated PV manufacturing from sand to PV modules including ecosystem of ancillary units
Battery chemicals and components, cells manufacturing and manufacturing of packs for mobility applications as well as containers for Energy Storage system
Electrolyzer and Fuel Cell Manufacturing
Power generation for round-the-clock renewable power
Renewable power generation for production of Green Hydrogen
Conversion of Green Hydrogen to Green Chemicals
Power electronics systems required to support renewable energy such as inverters, chargers, converters, EMS and BMS
Renewable energy for mobility
Highlights FY 2022-23
RIL unveils India’s first
Hydrogen Combustion
Engine technology for
heavy-duty trucks and
buses
REC Solar voted BEST
Solar Panels and BEST
After-Sales Support
by Australian solar
installers
Reliance is awarded with Integrated Solar Manufacturing (PolySilicon - Wafer - Cell - Module) for 10GW / year capacity under Solar PLI Scheme and 5GWh / year capacity for manufacturing of batteries under Advanced Chemistry Cell (ACC) PLI Scheme.
Successfully engineered and commissioned first pilot Hydrogen Refuelling Station (HRS) at Jamnagar. It is built on vendor agnostic approach integrated with latest safety technologies and energy efficient design
Commenced work related to the development of Renewable Energy Park on land allocated by Govt. of Gujarat
Completed acquisition / investment in Sensehawk, Lithium Werks and Caelux
Industry Overview
The Indian renewable energy sector is the third most attractive renewable energy market in the world. India was ranked first in solar power and third in renewable power installed capacity in 2021 (According to EY Renewable Energy Country Attractiveness Index).
The transition to renewable energy will require multi-fold increase in the global installed capacity of wind and solar from the current 1,960 GW.
Demand Projection – Global
Global energy demand is likely to increase from ~1,74,000 TWh to ~2,04,000 TWh in 2050
Renewables are likely to replace coal (electricity) and crude oil (transportation fuels) for decarbonisation
Likely increase in contribution from electricity generated from renewable sources
Renewables are likely to replace ~17,000 TWh of coal and ~15,000 TWh of crude oil demand and fulfil incremental energy demand
Share of renewables in energy basket is likely to increase 3x from ~20,500 TWh (~12%) to ~71,000 TWh (~35%)
Demand Projection – India
India’s per capita energy demand is about one-third that of the global average
As quality of life improves, India’s energy demand is likely to increase from ~11,500 TWh to ~26,000 TWh by 2050
Share of coal and oil in the energy basket is likely to reduce from 69% to 51% by 2050
Renewables and natural gas are likely to replace coal and crude oil and will supply incremental energy demand
Share of natural gas in energy basket, is likely to increase from ~580 TWh (~5%) to ~2,900 TWh (~11%)
Share of renewables is likely to increase from ~2,500 TWh (~22%) to ~8,600 TWh (~33%)
For more information regarding the progress towards a Net Carbon Zero future and the clean energy transition, Read more Source: bp Energy Outlook 2023 – New Momentum
New Energy Council
The Reliance New Energy Council (NEC) helps us to validate our strategies and embrace disruptive pathways to achieve our goals. NEC members are experts in their fields who guide us on technical strategy, help identify opportunities, and advice on partnerships worldwide. They are global advocates and thought leaders of the New Energy business.
NEC Charter
Accelerate the market-led transition of Reliance to clean energy, with the aim to become Net Carbon Zero by 2035
Reinvent Reliance to become a New Energy major with a focused technology roadmap of 5 to 15 years – including an optimal mix of clean, affordable energy
Formulate strategies for business configuration, operations, models, manufacturing and project development within an ever-evolving Indian and global policy landscape
Profiles of Council Members
Dr. Raghunath Mashelkar (Chairman, NEC)
A pioneer of the ‘Inclusive Innovation’ movement, he is an eminent scientist, National Research Professor, and Independent Director at RIL
Mr. Henrik Stiesdal
A pioneer of the modern wind industry, he has more than 175 inventions and 650 patents related to wind power technology to his name.
Dr. Alan Finkel
The former Chief Scientist of Australia, he led the development of Australia’s National Hydrogen Strategy and now serves as Special Adviser to the Australian Government on Low Emission Technologies.
Dr. Martin Green
Referred to as the ‘father of photovoltaics’, he revolutionised the efficiency and costs of solar photovoltaics and invented PERC solar cells.
Dr. David Milstein
A winner of the Israel Prize, Israel’s highest honour, he has done breakthrough research in water splitting for hydrogen, innovative energy storage systems and carbon dioxide capture and utilisation.
Dr. Rachid Yazami
A winner of the Draper Prize, the equivalent of a Nobel Prize for engineers, he invented the lithium graphite anode used in commercial Li-ion batteries.
Dr. Geoffrey Maitland
A Professor of Energy Engineering at Imperial College, London, he is a global authority on carbon capture and storage technologies.
Dr. Robert Armstrong
The Director of MIT’s prestigious Energy Initiative, his research links science, innovation, and policy to create pathways to a low carbon energy future.
Reliance aspires to create a positive impact and bring about significant changes in the world with the help of these exceptional individuals.
Key Acquisitions and Investments*
Acquired REC Solar Holdings AS (REC Group) for an enterprise value of $771 million
REC Group is one of the world’s leading solar cells and panels, and polysilicon manufacturing companies. The acquisition will help Reliance to become a global scale PV manufacturer with industry-leading heterojunction (HJT) cell technology.
Acquired a 40% stake in Sterling & Wilson Renewable Energy
Sterling & Wilson Renewable Energy is one of the largest EPC and O&M providers globally, providing turnkey solutions in the New Energy value chain.
Its acquisition will boost Reliance’s commitment to enable up to 100 GWp of solar energy in India by 2030 and becoming a global player in the renewable industry
Acquired Faradion Limited for an enterprise value of $100 million
Faradion is a leading global battery technology company and has competitively superior, strategic, far-reaching and extensive IP portfolios covering several aspects of sodium‑ion technology.
Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory as part of the DAGEGC project at Jamnagar, India.
Invested $50 million in Ambri
Ambri Inc is developing long storage battery based upon antimony calcium technology. The investment will help Reliance commercialise and grow its long-duration energy storage systems business globally. Along with strategic investors Paulson & Co. Inc. and Bill Gates and a few other investors, RNEL is investing a total of $144 million.
Invested $29 million in Germany’s NexWafe
Partnered with NexWafe for joint technology development and commercialisation of high‑efficiency monocrystalline “green solar wafers”.
Reliance has access to NexWafe’s proprietary technology, which is expected to drastically lower costs and make solar photovoltaics the lowest-cost form of renewable energy available. This will help Reliance build large-scale wafer manufacturing facilities in India.
Collaboration with Denmark’s Stiesdal A/S on technology development and manufacturing of Hydrogen Electrolyzers in India
This technology can produce hydrogen at a significantly lower cost compared to current levels. This will pave the way for rapid decarbonisation and commercialisation of affordable Green Hydrogen – a key enabler in achieving India’s green energy transition. RNEL and Stiesdal will also collaborate to develop and implement other path-breaking climate change technologies.
Invested $61 million to acquire assets of Lithium Werks
An integrated portfolio of high- performance LFP solutions with a unique history of 30+ years of battery experience and innovation. This will further strengthen Reliance’s cell chemistry technology leadership and accelerate setting up of multi gigawatt hour scale battery manufacturing in India.
Acquired 20% stake in Caelux Corporation for $12 million
It is engaged in development of perovskitebased solar technology that improves the relative performance of new crystalline silicon modules to make them more powerful and cost effective. Through this investment and collaboration, Reliance will be able to produce more powerful and lower cost solar modules leveraging Caelux’s products.
Acquired majority stake in SenseHawk for a total transaction value of $32 million
SenseHawk is an early-stage California-based developer of software based management tools for the solar energy generation industry. It will help accelerate Reliance’s solar projects from planning to production by streamlining processes and using automation.
Invested ~`50 crore
Altigreen is an electric vehicle technology and solutions company for commercial last mile transportation through 2/3/4 wheeled vehicles Reliance will collaborate with Altigreen for battery, supply for cells, BMS and Vehicle IOT
* Reliance has also made other minor strategic investments in New Energy