Jamnagar: Mukesh Ambani, MD and Chairperson of Reliance Industries Limited, while addressing the 47th Annual General Meeting today, announced that by the end of this year, the company will commence production of its own solar photovoltaic (PV) modules.

Giving an update on the progress of Reliance’s New Energy business, Ambani said, “Spearheaded by our dynamic team of technologists and agro scientists, we are also establishing the world’s largest bioenergy deep-tech R&D centre at Jamnagar, focusing on: First, process improvements through customised biocatalysts and microbial consortia. Second, developing high-yield, drought-resistant variants for energy crops. Third, automating bioenergy plant operations and the supply chain from farm to plant. Fourth, integrating energy needs of the plant through photo-agro-voltaic solar technology for a sustainable electricity supply.”

“I am delighted to announce that by the end of this year, we will commence the production of our own solar photo- voltaic (PV) modules. In the following quarters, we will complete the first phase of our integrated solar production facilities. This includes modules, cells, glass, wafer, ingot, and polysilicon, with an initial annual capacity of 10 GW,” he added.

“Our giga-factory is designed for modular expansion at minimal cost and in the shortest time possible. We have fully integrated and indigenised the HJT technology from REC Singapore, our wholly owned subsidiary, to develop 1st  Gen bifacial solar panels with cell efficiency exceeding 26%. Additionally, we have significantly enhanced our R&D capabilities by establishing a state-of-the-art prototyping, testing, and validation lab in India, and we are expanding our Advanced Solar Technology Lab in Singapore,” Ambani said.

Ambani also announced that they have already begun construction of an integrated advanced chemistry-based battery manufacturing facility with a 30 GWh annual capacity at Jamnagar. Production will commence by second half of next year.

“We will start by assembling Battery Energy Storage Systems (BESS) for utility scale applications and pack solutions for residential, commercial, industrial, telecom, and mobility markets. Progressively, over the next few quarters, we will integrate backward to cell manufacturing and eventually to battery chemicals production. This will create the world’s only fully integrated battery giga-factory, driving synergies across the value chain,” he said.

“Our giga-factory will be SMART from the start and fully Digital Native. We will have full track and trace capability from battery materials to cells to systems/packs installed in the field. These production lines will be future-proof and adaptable to different chemistries and changing cell form factors. The modular design will allow us to rapidly expand annual capacity in multiples of 30 GWh, responding to both domestic and global demand, while meeting diverse requirements from stationary to mobility applications,” he further went on to say.

Ambani also noted that with access to talent including from our subsidiaries LithiumWerks, and Faradion, the company has a strong team of nearly 150 technologists committed to deliver next-generation batteries and storage solutions that focus on safety, stability, and reduced lifecycle costs.

Saying that “Our deep understanding of electro-chemistry, combined with our ability to industrialise at scale and integrate with low- cost solar energy, gives us a unique advantage in delivering green hydrogen and green fuels at the most economical cost.”

“To achieve this, we have begun work on establishing a fully automated, multi-GW electrolyser manufacturing facility on the west coast of India, which will be ready by 2026. This giga-factory will be fully adaptable, capable of supporting various technologies such as Alkaline, PEM, and AEM. The facility is built using Industry 4.0 standards and will be expandable in a modular fashion to meet market demand. In parallel, we are building capabilities for futuristic electrolysis-based technologies to tackle challenges in energy efficiency and capital cost reduction for our next-gen electrolysers,” the Reliance CMD added.

Calling Jamnagar the Energy Capital of the World, Ambani said, “I am proud to say that by 2025, Jamnagar will also become the cradle of our New Energy business. The Dhirubhai Ambani Green Energy Giga Manufacturing Complex will be the world’s largest, most modern, modular, and integrated ecosystem at a single location.”

“We are on track to fully commit and invest up to ₹75,000 crore to establish this manufacturing ecosystem, extensively enabled by all emerging technologies including AI, IoT, Machine Learning, and Robotics. Our complete ownership and automation of the integrated value chains will allow us to maximise margins that are higher than those of stand-alone, non-integrated players,” he added.

To support our investments, we are committed to partnering with leading global technology companies, building world class, state-of-the-art R&D capabilities, and expanding our large, dynamic talent pool of PhDs, technologists, and engineers from various nationalities.

This will ensure that our company emerges as a deep-tech new energy leader with advanced manufacturing capabilities. This will keep us at the forefront of innovation and help us continuously introduce higher efficiency, reduced lifecycle cost, next-gen products.

The Reliance CMD said, “Earlier, I shared with you my vision to maximise the harnessing of photons, convert them into low-cost electrons, and add value by creating green molecules through electrolysis. I am pleased to report that we are well on our way to realizing this vision. We have leased arid wasteland in Kutch, just 250 kilometres from Jamnagar. This wasteland has the potential to generate about 150 billion units of electricity in the next 10 years — providing nearly 10% of India’s energy requirements.”

“We have already begun significant project development work and are building our own transmission infrastructure to bring online solar generation projects that will deliver stable, renewable energy on a round-the-clock basis (RE-RTC) at GW scale, in a phased manner commencing 2026. Our proven engineering and construction capabilities, combined with the utilisation of AI and data-driven approaches for configuration, design, project execution, and operations, will enable us to deliver the most affordable and stable RE-RTC power in the shortest time.”

“In addition, we have secured access to nearly 2,000 acres of land at Kandla port, which complements our existing marine infrastructure at Jamnagar. This integrated coastal infrastructure will provide us with an unparalleled competitive advantage for the production, storage, evacuation, and shipping of green fuels to various markets in India and across the globe, ensuring we fetch the highest value for our green fuel molecules,” he added,

Ambani stated that the prospects of perpetual growth and profitability of our New Energy businesses are assured by five factors and said “First, our focus will be on meeting our large captive RE-RTC requirements across our group businesses over the next 5 to 7 years, drastically saving their energy costs. These projects will be backed by firm offtake contracts and will generate positive cash flow for our existing businesses. Second, our investments in green fuels projects will be supported by value-accretive offtake agreements with large global counterparts. Third, with short gestation periods from conceptualisation to commissioning and cash flow generation, we will ensure with razor sharp focus that these projects are cash flow positive from Day 1. Fourth, as we expand, our next-gen products—developed through our deep-tech R&D—will deliver higher efficiency and reduced costs, leading to further margin expansion. Fifth, these businesses are being built with a mindset of start-up growth companies with empowered task force teams with best-in-class global talent”

“Your company has a strong balance sheet, robust annual accruals, and access to the most competitive global institutional capital to responsibly invest in and support our New Energy commitments. We believe that our New Energy business will be truly unique—delivering cash flows that are less cyclical and more predictable. I am, therefore, confident that in the next 5 to 7 years, our New Energy growth engine can aim to deliver an earning capacity, like what our existing O2C business earns and what it has achieved over the last four decades,” he added.