Reliance Industries to Invest $17.5 Bn in New Energy, Petrochem Business

Reliance Industries Ltd (RIL) is making a massive ₹1.5 trillion (approx. US $ 17.5 Bn) investment to expand its new energy and petrochemical businesses. The company is allocating ₹75,000 crore each to these sectors, aiming to transition its renewable energy and battery operations from incubation to full-scale production.

Solar Expansion: RIL has commissioned a 1-gigawatt heterojunction (HJT) solar module facility, with plans to scale up to 10 gigawatts by 2026.

Battery Technology: The company is focusing on lithium iron phosphate (LFP) batteries, with large-format prismatic cells designed for utility-scale energy storage.

Green Hydrogen & Sustainability: RIL is developing a green hydrogen ecosystem, including electrolyzer manufacturing.

Financial Impact: The new energy vertical is expected to match profits from RIL’s traditional oil-to-chemicals (O2C) business between FY29 and FY31, eventually contributing over 50% of consolidated profit.

This move positions RIL at the forefront of India's clean energy transition.

Meanwhile, Adani Group has committed $70 billion (~₹5.8 trillion) toward renewable energy and green hydrogen aiming for 45 GW of solar and wind capacity by 2030.

Adani's investment is significantly larger, but RIL is focusing on integrated manufacturing, including solar modules, batteries, and electrolyzers.

On the other side, Govt owned BPCL & HPCL are expanding refining capacity and investing in natural gas and biofuels, but their renewable energy investments are smaller compared to RIL. Apparently, RIL is leading in solar and hydrogen, while BPCL & HPCL are focused on traditional energy diversification.