Reliance Industries Chairman Mukesh Ambani pledged in June to spend US$10 billion on green energy over three years, putting him squarely in competition with Gautam Adani’s Adani Group, which is planning to invest US$20 billion over 10 years for renewable energy businesses.
REC makes solar grade polysilicon and solar panels and modules at facilities in Norway and Singapore, and has more than 1,300 employees globally, the statement shows. Reliance will use REC’s technology to manufacture metallic silicon and solar panels at its gigafactory at Jamnagar in Gujarat. The factory’s annual capacity will expand to 10 gigawatts from 4 gigawatts. Reliance will strongly support REC’s planned expansion in Singapore, France and the U.S.
“It is in line with our strategy of investing in new and advanced technologies and operating capabilities aimed at achieving Reliance’s goal of enabling 100 GW clean and green energy before the end of this decade,” Ambani said in the statement.
Photo: REC solar panels installed at Asia Pacific Breweries' premises in Singapore / Photo credit: REC
