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Asia's richest fossil fuel billionaire unveils $10B plan to go green

Asia's richest fossil fuel billionaire unveils $10B plan to go green
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Mukesh Ambani to spend $13b on green energy

Mukesh Ambani to spend $13b on green energy
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Asia's richest man plans $10bn push into green energy

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Marking a new pivot for one of the worldâs biggest fossil-fuel billionaires.
By Rajesh Kumar Singh and Debjit Chakraborty, Bloomberg
27 Jun 2021
00:25
Image: Prashanth Vishwanathan/Bloomberg
Indian tycoon Mukesh Ambani unveiled an ambitious push into clean energy involving 750 billion rupees ($10.1 billion) of investment over three years, marking a new pivot for one of the worldâs biggest fossil-fuel billionaires.
Reliance Industries Ltd., which gets 60% of its revenue from oil refining and petrochemicals, plans to spend 600 billion rupees on four âgiga factoriesâ to make solar modules, hydrogen, fuel cells and to build a battery grid to store electricity. An additional 150 billion rupees will be invested in value chain and other partnerships, Asiaâs richest man told shareholders on Thursday. ....

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Asia's richest man plans $10 billion investment in green energy

Asia's richest man plans $10 billion investment in green energy
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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Indian tycoon Mukesh Ambani to invest $10.1bn into clean energy

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Indian tycoon Mukesh Ambani unveiled an ambitious push into clean energy involving 750 billion rupees ($10.1bn) of investment over three years, marking a new pivot for one of the world’s biggest fossil-fuel billionaires.
Reliance Industries, which gets 60 per cent of its revenue from oil refining and petrochemicals, plans to spend 600 billion rupees on four “giga factories” to produce solar modules, hydrogen, fuel cells and to build a battery grid to store electricity. An additional 150bn rupees will be invested in value chain and other partnerships, Asia’s richest man told shareholders on Thursday.
The move toward green by the Mumbai-based giant, which reported an annual revenue of $63bn, offers a glimpse of the new order awaiting some of the world’s major fossil-fuel producers. Global giants such as Exxon Mobil and TotalEnergies have been under pressure to pare their carbon footprint, as governments, investors and consumers join to fight climate chang ....

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