Mukesh Ambani will get big profit from new energy business, can earn $ 15 billion in 7 years - Newztezz Online

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Sunday, June 18, 2023

Mukesh Ambani will get big profit from new energy business, can earn $ 15 billion in 7 years

Clean energy is the new pillar of growth for Reliance in India with an investment of $2,000 billion in India by 2050. India is running with a target of 280 GW solar capacity and 5 million tonnes of green hydrogen production by 2030.

The entire focus of Asia's richest businessman Mukesh Ambani and his group Reliance is on New Energy business. That's why he has also played a big bet in this business. According to the report of Sanford C. Bernstein, Reliance Industries can earn 10 to 15 billion dollars i.e. 1.29 lakh crore rupees from the new energy business. By the way, the company also emphasized that to increase the technology, the company will have to tie-up with the companies on the other hand, so that they can get benefit in this business.

TAM may increase to $ 30 billion

Clean energy (solar, batteries, electrolysers and fuel cells) is the new growth pillar for Reliance in India with an investment of $2,000 billion in India by 2050. India is running with a target of 280 GW solar capacity and 5 million tonnes of green hydrogen production by 2030. The brokerage company said in its report that we estimate that the number of electric vehicles in the passenger and commercial vehicle segments will reach five percent, while in the case of two-wheelers it will be 21 percent. The total available market for clean energy could grow from $10 billion at present to $30 billion by 2030. According to the report, we expect it to reach $200 billion by 2050.

This much can be revenue

Reliance Group, working from oil to telecom sector, has announced to enter the hydrogen market along with solar manufacturing. Reliance plans to have 100 GW of installed solar capacity by 2030, which is 35 percent of the country's target of 280 GW. Bernstein said that by 2030, we expect Reliance to get 60 percent of the solar market, 30 percent of the battery market and 20 percent of the hydrogen market. According to the report, we estimate that Reliance can generate revenue of around $ 10-15 billion from the new energy business in 2030, which will be around 40 percent of TAM.

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