In the current global energy landscape, the oil and gas industry is experiencing a profound transformation characterised by a decisive shift towards sustainability. This shift is propelled by the escalating urgency to tackle climate change and the increasing demand for renewable energy sources. Within this context, India emerges as a pivotal player due to its vast energy market and potential for significant impact. Reliance leads this transition in India by innovating and implementing decarbonisation strategies.
The Company is actively developing a comprehensive green energy ecosystem, utilising new technologies and pursuing innovative approaches, which contribute to the reduction of carbon emissions and shaping a more sustainable future for the nation. The transition from fossil fuels to green energy, which requires substantial investments in skills, technology and large-scale manufacturing ecosystems, strongly supports Reliance’s New Materials and New Energy businesses.
Reliance is determined to position India as a global leader in energy transition. The Company’s focus on developing indigenous technology and manufacturing capabilities aims to transform India from being a net energy importer to an exporter, generating substantial wealth for the country and its shareholders.
To achieve its ambitious Net Carbon Zero target by 2035, Reliance announced plans to:
Establish and enable
100 GW of renewable energy by 2030.
Invest
In the value chain, partnerships and future technologies, including upstream and downstream industries.
Build
Giga factories to create and offer a fully integrated, end-to-end renewable energy ecosystem.
Transform
Its business to Net Carbon Zero operation.
Reliance’s ambitious Net Carbon Zero goal elevates both the challenges and opportunities to a globally impactful and transformational level, surpassing any of its past endeavours.
Reliance has consistently adhered to its core business principles, and this approach remains unchanged in its journey towards a ‘Net Carbon Zero’ future.
Today, these foundational principles continue to guide the Company’s progress, as detailed below:
Hyper-integration:
By integrating scientific knowledge with continuous technological innovation to build and operate truly integrated systems that deliver hyper‑performance.
Robust business model:
By building a model that captures the irreversible upward trend in the demand for green, clean and renewable energy in India and globally, alongside the decreasing cost of production.
Scale:
By improving the efficiency, performance and life cycle of its assets and operations to achieve total system optimisation and economics.
Reliance is well on its way to securing self-reliant supply chains through investments and strategic partnerships with leading firms in solar power, batteries and electrolysers. These collaborations grant the Company access to unique technological expertise and talent, positioning it to lead a transformative shift in the global New Energy sector.
Reliance is making significant strides in the development of the Dhirubhai Ambani Green Energy Giga Complex spanning 5,000 acres in Jamnagar. The phased commencement of operations at the Solar PV Giga Factory is anticipated by the end of 2024. Simultaneously, Reliance has made progress in developing a manufacturing ecosystem essential for cost-efficient wind power generation at a giga scale. A pivotal aspect of this initiative is the large-scale manufacturing of carbon fibre, significantly reducing the cost of wind turbine production. In parallel, Reliance is accelerating the commercialisation of its sodium ion battery technology. With plans to industrialise sodium ion cell production at a megawatt level by 2025, the Company intends to rapidly transition to a giga scale. Reliance is also working towards establishing a giga factory dedicated to fuel cells, which are anticipated to progressively replace internal combustion engines. Reliance is investing in a power electronics giga factory, a vital component that connects the entire green energy value chain. Reliance made notable progress in cost‑competitive green hydrogen production by reducing the cost of renewable power generation and the installed cost of electrolysers for giga-scale deployment.
The Company continues to explore cutting-edge technologies listed below for converting CO2 into valuable products, with investments in carbon capture and utilisation playing a crucial role.
Building on its commitment to sustainable transportation, Reliance is proactively transitioning from traditional fuels to cleaner alternatives such as hydrogen and electricity, complemented by its New Energy and New Materials businesses. This shift includes moving from traditional transportation fuels to chemical building blocks, integrating these with downstream derivatives and enhancing them with clean energy solutions such as solar, wind, and batteries. In July 2023, Reliance’s collaboration with BharatBenz led to the unveiling of India’s first hydrogen fuel cell-powered luxury coach, equipped with Reliance’s indigenous hydrogen fuel cell, with a promising range of approximately 400 kms. Reliance also introduced swappable EV battery technology, building upon its acquisitions of Faradion and Lithium Werks. The inauguration of Jio-bp’s advanced Compressed Bio-Gas retailing network and the expansion of the Jio-bp pulse EV charging network highlight Reliance’s dedication to promoting green mobility. These efforts, along with partnerships to commercialise proprietary technologies such as Multi-zone Catalytic Cracking (MCC), exemplify the Company’s progress towards an optimal mix of reliable, clean, and affordable energy.