Reliance can earn $ 10-15 billion by 2030 from new energy business
[ad_1]
This is stated in a report by Sanford C. Bernstein. Clean energy (solar, batteries, electrolysers and fuel cells) is the new growth pillar for Reliance in India with an investment of $2,000 billion in India by 2050.
New Delhi. Industrialist Mukesh Ambani’s Reliance Industries could generate $10-15 billion by 2030 from new energy businesses spanning solar to hydrogen. However, it will have to compensate for its limited expertise in technology through new acquisitions or partnerships. This is stated in a report by Sanford C. Bernstein. Clean energy (solar, batteries, electrolysers and fuel cells) is the new growth pillar for Reliance in India with an investment of $2,000 billion in India by 2050.
India is targeting 280 GW of solar capacity and 5 million tonnes of green H2 production by 2030. The brokerage company said in its report, “We estimate that the number of electric vehicles in the passenger and commercial vehicle category will reach five percent, while in the case of two-wheelers it will be 21 percent. The Total Available Market (TAM) of clean energy could grow from $10 billion currently to $30 billion by 2030.” According to the report, “we expect it to reach $200 billion by 2050.”
Relays working from oil to telecom sectorThe group has announced its foray into the hydrogen market along with solar manufacturing. Reliance plans to have 100 GW of installed solar capacity by 2030, which is 35 percent of the country’s target of 280 GW. “We expect Reliance to capture 60 percent of the solar market, 30 percent of the battery market and 20 percent of the hydrogen market by 2030,” Bernstein said. It can generate revenue of around $10-15 billion, which will be around 40 per cent of TAM.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
[ad_2]
Source link