India's Reliance Industries Invests $18 Billion to Develop Its Energy and Petrochemical Businesses

Reliance Industries Limited (RIL) will invest $18 billion to accelerate its expansion in new energy and petrochemicals. The move marks a strategic milestone in the group's industrial transformation.

The company announced the commissioning of its first heterojunction (HJT) solar module manufacturing plant with a capacity of 1,000 MW. The company plans to expand its capacity to 10,000 MW by 2026, which will increase its earnings before interest, taxes, depreciation and amortization (Ebitda) by about $720 million. Engineering covering the entire value chain including polysilicon, modules, glass and polyolefin elastomers (POE) has been completed.

Reliance Industries is also developing a complete battery manufacturing chain using lithium iron phosphate (LFP) technology, aimed at large-scale energy storage. Production will begin in 2026, first producing battery packs and then gradually moving to full battery manufacturing.

Meanwhile, Reliance has acquired large tracts of land in the Kutch region, known for its high solar radiation, to support up to 150 billion units of electricity production per year. In addition, a dedicated transmission line from Jamnagar is under construction to connect future energy production sites.

In the port city of Kandla, the company is working with Norwegian company Nel ASA to develop a 2,000-acre industrial zone for its green hydrogen project. Construction of the electrolysis plant is progressing and is expected to be fully operational by the end of 2025 or early 2026.

These solar production facilities cover more than 5,000 acres and are designed to be quickly expanded to an annual production capacity of 20,000 megawatts as needed. Reliance Industries' solar modules have been certified by the Bureau of Indian Standards (BIS) with a peak power of up to 720 watts.

The battery division plans to reach a production capacity of 30,000 megawatts, integrating battery material manufacturing, battery cells and battery packs. The strategy aims to ensure supply for future integrated energy projects.

Reliance Group executives said that the full integration of the solar and battery value chains will effectively support green hydrogen production. "We are building a fully integrated energy platform that is unique among energy platforms of this scale."

The industrial base has begun producing solar panels, using advanced automation technology and optimized production processes to ensure competitiveness and economies of scale. The project is expected to quickly increase production capacity to meet the needs of domestic and export markets.