India’s Reliance Industries has announced plans to invest $8.1 billion over the next three years to build gigafactories for solar, energy storage, electrolyzers, and fuel cells.

Mukesh Ambani, the richest person in Indian, has revealed that his company, Reliance Industries, will enter the new energy business. The company has aggressive plans to manufacture and fully integrate critical components spanning every stage of the solar supply chain, advanced energy storage, hydrogen production, and fuel cells.

Ambani said the company plans to invest $ 8.1 billion)  to set up four gigafactories. They will include an integrated PV module factory, an advanced energy storage battery factory, an electrolyzer factory for the production of green hydrogen, and a fuel cell factory to convert hydrogen into power. 

Work has already started on the development of a manufacturing complex in Jamnagar, in the Indian state of Gujarat. The solar gigafactory will cover the entire silica-polysilicon-ingot/wafers-cells-modules chain.

“We aim to establish and enable at least 100 GW of solar energy by 2030,” said Ambani. 

For the advanced energy storage factory, Reliance Industries is exploring new and advanced electrochemical technologies that can be used in large-scale grid batteries. It will collaborate with global leaders in battery technology to achieve the highest reliability for round-the-clock power availability through a combination of generation, storage, and grid connectivity. 

The electrolyzer factory will manufacture modular electrolyzers. These will be used for captive production of green hydrogen for domestic use and global sale. 

Reliance Industries unveils $10 billion plan for solar, storage