Reliance Industries, the company of India’s richest person Mukesh Ambani, is expanding business in new areas over time. There was a time when the business of Reliance Industries revolved around petroleum and chemicals, but now the company has expanded significantly from telecom to retail. Similarly, Mukesh Ambani’s company is paying a lot of attention to New Energy (RIL New Energy), from which it is expected to earn big money.
This brokerage firm gave an estimate
A Mint report quoted brokerage firm Sanford C Bernstein as saying that industrialist Mukesh Ambani’s Reliance Industries could earn $10-15 billion by 2030 from new energy businesses ranging from solar to hydrogen. However, Bernstein added that Reliance Industries would have to compensate for its limited expertise in technology through new acquisitions or partnerships.
Reliance’s ambitious plan
A report by Sanford C. Bernstein states that Reliance Industries’ plan in the field of clean energy (which includes solar energy to batteries, electrolyzers and fuel cells) is ambitious and the company is going to invest heavily in it. Thus clean energy is the new pillar of growth for Reliance. India is aiming to produce 280 GW of solar energy and 5 million tonnes of green hydrogen by 2030.
This is how the clean energy market will grow
The brokerage company has said in its report, we estimate that the number of electric vehicles in the passenger and commercial vehicle category will reach five percent, while in the case of two-wheelers it will be 21 percent. This could increase the total available market for clean energy from $10 billion now to $30 billion by 2030. At the same time, by the year 2050, it can reach 200 billion dollars.
Reliance will dominate in these areas
Reliance has recently announced its entry into the hydrogen market along with solar manufacturing. Reliance plans to have 100 GW of installed solar capacity by 2030, which is 35 percent of the country’s target of 280 GW. We estimate that by 2030, Reliance will be able to capture 60 percent of the solar market, 30 percent of the battery market and 20 percent of the hydrogen market, Bernstein said. In this way, Reliance can get revenue of about $ 10-15 billion from new energy business by 2030.
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