All eyes are on RIL’s new energy plans and 5G launch schedule at the August 29 AGM

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The market will no doubt be paying attention to RIL’s Annual General Meeting on August 29th. But the question is why this time, even the automotive sector will take care of it? Indeed, all eyes will be on the company’s New Energy plans and announcements regarding the launch of 5G.

As recently confirmed at the Financial Express Connected Mobility Summit 2022, 5G is expected to be the main disruptive force in automotive manufacturing going forward. Connected technology is advancing by leaps and bounds in the industry and OEMs are being proactive in ensuring vehicles are connected, taking into account existing demand dynamics.

Last year, RIL announced that an investment of Rs 75,000 cr over the next 3 years in 4 Giga factories will mark a seismic shift in the pursuit of clean energy in India. The market will no doubt be paying attention to further details on the company’s green energy projects.

According to the company’s annual report, Reliance’s green energy investments will begin to be operational within the next year and new energy is expected to eclipse current growth drivers in just 5-7 years.

It targets building technologies, scaling capacity and creating a new energy ecosystem for India and RIL to achieve net zero emissions ambition. RIL President Mukesh Ambani explained that “we are now aiming to take care of the planet as we embark on our most exciting transformation: the green transformation”.

In fact, RIL has signed a series of partnerships with companies demonstrating unique technological and execution capabilities, including the world leader in non-aqueous sodium-ion cell technology – Faradion in the UK and Lithium Werks in the Netherlands. Down in energy storage space.

Similarly, Reliance has invested in Germany’s NexWafe, involved in next-generation technology to produce monocrystalline silicon wafers needed to manufacture solar panels, as well as the developer’s stake in REC Solar.

In the hydrogen ecosystem, Reliance has partnered with US company Chart Industries to form India H2 Alliance to commercialize hydrogen technology. It has also entered into an agreement with Denmark’s Stiesdal A/S for its innovative next-generation electrolyser technology, which has the potential to significantly reduce the cost of producing hydrogen from pure water.

The company has also simultaneously started work on the four Giga factories of the Dhirubhai Ambani Green Energy Giga Complex to establish global production capacity for solar panels, energy storage systems, electrolysers and fuel cells spread over 5,000 acres in Jamnagar.

RIL is further focusing on profitability in most of these initiatives, keeping in mind the cost-conscious consumer base across India, as well as the automotive sector.

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