Reliance Industries Prepares for Solar & Battery Production by 2025
The Indian multinational conglomerate, Reliance Industries Ltd, plans to launch solar and battery storage production facilities. By the end of 2024, the company will begin producing solar photovoltaic (PV) modules, with production in a battery gigafactory starting in the latter half of 2025.
The company’s subsidiary, Reliance New Energy Ltd (RNEL), is developing a US$ 7.2 billion green energy complex in Jamnagar, Gujarat. It will include the production of solar PV modules, battery cell and storage systems, power electronics and semiconductor production facilities, and more.
The subsidiary acquired REC Silicon Pte Ltd, a Singapore-headquartered solar manufacturer and materials company, to incorporate its technology into an integrated solar production facility. The facility is set to begin operations in 2024 and will have a 10-gigawatt annual production capacity.
The plant will utilize REC Silicon’s heterojunction (HJT) technology to produce first-gen bifacial solar panels with over 26 percent cell efficiency. In subsequent phases, the production of additional components, including cells, glass, wafers, and polysilicon, will commence.
Contributing to Viksit Bharat, the new facilities are part of a strategy to expand the company’s offerings into advanced manufacturing and deep-tech sectors. Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, shared these plans at the company’s 47th Annual General Meeting.