The nation's most valuable company by market capitalisation, Reliance Industries, intends to begin construction on its first giga-factory, a solar facility, in the current fiscal year 2024–2025. The business owned by Mukesh Ambani, the richest man in India, is working towards its goal of having net-zero carbon emissions from operations by 2035.
According to Reliance's annual report, the company plans to begin construction of the first phase of a solar photovoltaic (PV) manufacturing plant by the end of FY 2024–2025 and gradually expand it to 20 GW by 2026. Reliance Industries' solar gigafactory will produce polysilicon, glass, wafers and ingots, cells, and PV modules all in one location.
Additionally, the company has set goals to produce 50 megawatt hours (MWh) of lithium battery cells annually for the first time in 2026 and to industrialise sodium-ion cell production at the megawatt level in 2025. In 2021, Reliance Industries, the company led by Mukesh Ambani, declared its intention to invest $10 billion over the course of three years to establish a new fuel business centred around 100 gigawatts of renewable energy capacity by 2030.
In accordance with this plan, four giga factories will be built in Jamnagar, Gujarat, to produce hydrogen, fuel cells, battery storage, and renewable energy devices. In its annual report, Reliance Industries stated, "We have made significant progress in setting up factories that will be part of our integrated solar PV manufacturing."
