Mukesh Ambani: Mukesh Ambani: RIL has started preparations to enter the solar energy business

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Mukesh Ambani: Mukesh Ambani: RIL has started preparations to enter the solar energy business

New Delhi
Mukesh Ambani, India’s richest man and the head of Reliance Industries Limited (RIL), is considering bidding for solar power manufacturing. Mukesh Ambani, who has been doing petroleum business till now, now wants to enter the clean energy sector. People associated with this scheme have given this information.

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took part in the meeting
The country’s most valuable company Reliance Industries Limited (RIL) has also planned to take advantage of the incentives being given by the central government. Last month, Reliance participated in a pre-bid meeting to know about the subsidy program being given by the government to the solar power sector. Sources related to this matter gave this information on the condition of anonymity.

RIL’s big plan
RIL’s Mukesh Ambani had said at the AGM of Reliance Industries Limited (RIL) in the last week of June that the company now wants to make a sharp move in the renewable energy business. It wants to foray into new segments to support its existing petroleum business. Reliance said last month that it plans to set up a factory that manufactures solar components, energy storage batteries, electrolysers, etc.

PM Modi had announced
Prime Minister Narendra Modi has announced several incentives (PLIs) for many manufacturing sectors in the midst of the Corona crisis. Sectors like solar energy and batteries are also included in the financial assistance given by the Modi government. This announcement was made by Prime Minister Narendra Modi to support the economy stricken by the coronavirus crisis and reduce dependence on imports.

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increased dependence on China
India is currently largely dependent on China for its solar power equipment. About 80 percent of the solar modules in the country are supplied from China. The Modi government at the Center is considering giving incentives to companies making such things in India under the Self-Reliant India Campaign. This is indeed a huge opportunity for local and foreign investors.

Many companies want to set up units
Public sector coal mining company Coal India Limited (CIL) is also now looking to bid in a subsidy program to manufacture solar equipment. American firm Cubic BV Inc. has also started looking for an Indian partner to bid to take advantage of the incentives being given to the solar power sector.

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