Mukesh Ambani Reliance New Energy Solar limited and Bill Gates invests in American company Ambri Inc
Mukesh Ambani, chairman of Reliance Industries Limited, had announced his foray into the green energy sector in June. For this, Reliance Industries had formed a new subsidiary named Reliance New Energy Solar Limited (RNESL). Now this company has started investing.
According to a statement issued by Reliance Industries, Reliance New Energy Solar Limited along with other partners Poulson & Company Inc. and Bill Gates will invest $144 million in US-based Lithium Ion Battery manufacturer Ambri Inc. do. According to the statement, RNESL will invest $ 50 million, about Rs 372 crore. Through this investment, Reliance will get 4.23 crore shares of Embry.
Will help in cost reduction: Reliance has said that Embry has technology with long battery storage. There is also a system with energy storage for a long period. This will help in bringing down the cost. Apart from this, RNESL and Embry Inc. are also in exclusive talks to set up a large-scale battery manufacturing plant in India. This partnership will also help reduce the cost of Reliance’s green energy campaign. It is believed that this partnership will help Reliance Industries to make cheap batteries.
Embry to meet 2 GW energy storage requirements Reliance has said in the statement that Embry will meet the requirements of developing a 2 GW energy storage system. In addition, the company will manufacture calcium and antimony electrode-based cells, a technology that is more economical than lithium-ion batteries. Reliance New Energy Solar Limited has set a target of starting commercial operations by 2023.
Reliance to set up 4 giga factory: Mukesh Ambani had announced his foray into the green energy sector while addressing the shareholders in June this year. For this, Reliance Industries will invest Rs 75 crore in the next three years. Under the plan, Reliance Industries will set up a 4 Giga factory in Jamnagar, Gujarat. Mukesh Ambani had said that we are exploring the possibility of new and advanced electro-chemical technology. This allows the technology to be used to build battery grids for large-scale energy storage.
Reliance is also setting up electric vehicle charging stations: Reliance BP Mobility Limited, another subsidiary of Reliance Industries, is also setting up electric vehicle charging stations and battery swapping stations across the country. Recently Reliance BP Mobility has tied up with food delivery platform Swiggy. Under this, Swiggy’s delivery partner Reliance will be able to charge their vehicles at BP’s charging station. Along with this, they will also get the facility of battery swapping.
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