New Delhi: Reliance New Energy Solar Ltd, a subsidiary owned by Reliance Industries Limited (RIL), invests $144 million in Ambri Inc. along with Bill Gates of Paulson & Co (Paulson & Co), Inc. and a few other top investors do. Ambri Inc. is a US-based energy storage company. With this investment, the company’s energy storage system business will grow well. RNSEL will invest $ 50 million to acquire 42.30 million shares in the company.
Ambri has designed a lithium-ion battery to last for 4-24 hours based on patented technology. RNESL and Ambri are also discussing setting up a large-scale battery manufacturing facility in India that could substantially reduce the cost of Reliance’s green energy initiative.
In a statement from Ambri, it has been said that these investments will help the company to develop and commercialize its long duration energy storage system globally.
Said this thing in 44th AGM
Reliance Industries chairperson Mukesh Ambani had announced this at the 44th AGM. He had said that the company will install 4 giga factor under its environment-friendly initiatives. Apart from this, the company plans to launch new ENERGY BIZ in 2021, which will be led by RIL. Under this plan, the company will also set up Dhirubhai Ambani Green Energy Giga Complex, under which 4 factories will be set up.
Let us tell you that these giga factories will produce and integrate all the important parts related to the new energy ecosystem. While addressing the shareholders in this virtual AGM, he further said that the company will invest Rs 60,000 crore under its green initiatives. Apart from this, the company will make an additional investment of Rs 15,000 crore on partnership and future technology related to the development of the value chain of the Green Initiative.
Know about Reliance
Reliance is India’s largest private sector company with a turnover of INR 539,238 crore ($73.8 billion), cash profit of INR 79,828 crore ($10.9 billion) and a net profit of INR 53,739 crore ($7.4 billion) for the year ended 31 March 2021. billion). . Reliance’s activities include hydrocarbon exploration and production, petroleum refining and marketing, petrochemical, retail and digital services.
Reliance is India’s top-ranked company to be included in Fortune’s Global 500 list of “World’s Largest Companies”. The company is ranked 55th in the Forbes Global 2000 Ranking of “World’s Largest Public Companies” for 2021. It is included in LinkedIn’s ‘Best Companies to Work for in India’ (2021). Apart from this, you can also visit www.ril.com for more information.