RIL to focus on renewable energy, says Mukesh Ambani
: Oil and gas behemoth, Reliance Industries will focus on growth in its renewable energy segment and plans to pilot projects in bio-fuels, solar energy and fuel cells, its Chairman Mukesh Ambani said on Tuesday.
Mumbai: Oil and gas behemoth, Reliance
Industries will focus on growth in its renewable energy
segment and plans to pilot projects in bio-fuels, solar energy
and fuel cells, its Chairman Mukesh Ambani said on Tuesday.
"As part of our road-map for value creation, we are
entering into the renewable energy space, as a natural
extension of our conventional energy platform. Our efforts
will be on piloting projects in alternative energy," he told
shareholders at the company`s 35th annual general meeting
"Research and proof of concept project in bio-fuel, solar
energy and fuel cells, to understand and enable scale-up,
would characterise this effort. Our efforts would be to grow
the conventional energy and material platform through greater
global scale and competitiveness," he said.
Currently, using solar photo-voltaic cells to generate power
is considered a costly proposition in India. Although India
can produce solar cells with a total capacity of more than 50
MW, it uses less than half of this due to higher cost of
generation compared to thermal and wind.
The Solar Group of RIL has already implemented a large
electrification programme at the community and village level
in Maharashtra in 2007-08.
The project spanned across Nandurbar, Thane, Dhule,
Amravati, Nasik, Raigad, Kolhapur and Chandrapur and involved
providing lighting for over 14,000 households in over 84
villages in these districts.
It was awarded by the Maharashtra Energy Development
Agency (MEDA) to promote electrification of remote rural
households in the state.
The company said it would also focus to bring about rural
transformation by improving income and skill levels by linking
farmers in rural areas to urban and export markets.
"Equally, it would be on improving quality of lives in
rural India through endeavours in education, health, natural
resource management and community development," Ambani said.