reliance: Reliance intensifies green push with $80 billion investment in Gujarat

BENGALURU: Reliance Industries said it would invest Rs 5.95 lakh crore ($80.49 billion) to set up green energy projects and bolster its retail and telecom arms in the western state of Gujarat, as it targets net-zero carbon emissions by 2035.
Owned by billionaire Mukesh Ambani, the conglomerate has in the past year unveiled plans to reduce its dependence on its mainstay oil-to-chemicals business and invested in clean energy projects to brush up its green credentials.
The move is part of a larger renewable shift in the energy industry spurred by pressure from investors who want companies to do more to help in the fight against climate change.
Reliance will invest Rs 5 lakh crore over a span of 10 to 15 years to set up a 100 gigawatts renewable energy power plant and has already started scouting land for the project, it said in a filing to the stock exchanges on Thursday.
The remaining…

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