Mukesh Ambani-led Reliance Industries Limited (RIL) signed an MoU today with Gujarat for a total investment of ₹5.95 lakh crore as part of the investment promotion activity for Vibrant Gujarat Summit 2022. "To make Gujarat net zero and carbon free, RIL proposes to invest ₹5 lakh crore in the state over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development," a statement said. RIL said its initiatives for decarbonisation and creating a green ecosystem emanate from the Prime Minister Narendra Modi's vision. "In consultation with the government of Gujarat, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera," the statement added. Further, ₹25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years.

Source: Mint January 13, 2022 18:55 UTC