Reliance Industries (Reliance), a conglomerate looking to build one of the world's largest integrated renewable energy manufacturing facilities in India, is reportedly planning to commission the first phase of its solar module manufacturing by the end of the current fiscal year.
The Economic Times quoted sources saying that Reliance is gearing up to initiate its 5GW module manufacturing capability in Jamnagar, Gujarat, by the end of fiscal 2024 (April 2023 to March 2024), with subsequent plan to expand it to 20GW by 2026.
According to Reliance's annual report for 2022-2023, the conglomerate continues to make synergistic investments in green energy, including a majority stake in SenseHawk, an early-stage developer of software-based management tools for the solar energy generation industry. Reliance also acquired a 20% stake in Caelux Corporation to develop perovskite-based solar technology. Reliance aims to establish and enable 100GW of solar energy capacity by 2030 as part of its green energy plan, which consists of PV panels, energy storage, electrolyzers for green hydrogen, and fuel cells.
Meanwhile, Reuters, citing sources, reported that Solar Energy Corp of India had proposed forming a joint venture with Reliance to supply renewable energy to Reliance. PV Magazine reported that Australia-based Brookfield Asset Management signed an MoU with Reliance to make solar modules, battery storage, and components for wind energy in Australia.
