Reliance Industries Set To Double Green Energy Investment To Rs 1.5 Trillion, Shares Zoom

Mukesh Ambani-led Reliance Industries Ltd (RIL) said its plans to double its investment target for green energy to Rs 1.5 trillion as part of company's goal to boost its renewable energy portfolio.

Earlier in 2021, RIL, in its annual report, declared an investment of Rs 75,000 crore to build its new energy business. "Once proven at scale, RIL is prepared to double the investment to scale up its manufacturing ecosystem. The investment of ₹75,000 crore with a readiness to double investment will further the company's goals related to energy transition, enhance renewable energy usage and operational economic efficiency, and broaden focused research for the new energy business."

According to its BSE filing dated Aug 7, "With the increasing awareness around climate change, it is crucial for Reliance to address the challenges by taking conscious efforts to ensure that the Company continues to respond to the issue and develop a pathway to decarbonize its operations."

Meanwhile, RIL shares rallied 0.53% in trade on Monday. Current market price of RIL share is Rs 2523.45 apiece. Its 52-week high price is Rs 2635.17 apiece and 52-week low price is Rs 2012.14 apiece, respectively. Its market capitalisation is Rs 17,07,269.01 crore. RIL shares soared 19% in last 6-months, jumped 8% in last 1-year, and gave return of 30% in last 2-years.