Reliance Industries, an Indian multinational conglomerate, is set to open solar and battery storage production facilities by the end of 2024 and 2025.
Chairman and Managing Director Mukesh Ambani announced at the company’s 47th AGM in Mumbai that solar PV module production will begin by year-end, while the battery gigafactory will commence operations in the second half of next year.
Ambani highlighted these developments as part of Reliance’s broader strategy to advance in deep-tech sectors and advanced manufacturing, contributing to a developed India (Viksit Bharat).
Known primarily for its oil and gas ventures, Reliance has diversified into various sectors, including telecoms, financial services, and renewable energy.
Reliance’s New Energy subsidiary is constructing a $7.2bn green energy manufacturing complex in Jamnagar, Gujarat. This site will include solar PV, battery storage, electrolysers, and semiconductor production facilities, along with an R&D centre.
The company acquired REC Silicon in 2021, leveraging its technology for integrated solar production. The initial 10GW production capacity is expected to come online in 2024. Ambani confirmed that the facility will produce heterojunction PV modules with efficiency exceeding 26% by the end of this year.
“Our gigafactory is designed for modular expansion at minimal cost and in the shortest time possible,” said Ambani.
Battery production will begin in Jamnagar next year with a 30GWh capacity, initially focusing on BESS and battery packs for various markets.
“Progressively, over the next few quarters, we will integrate backward to cell manufacturing and eventually to battery chemicals production,” Ambani stated, aiming to create “the world’s only fully integrated battery gigafactory.”
Reliance has also invested in companies like LithiumWerks and UK-based Faradion, and is looking to expand its battery portfolio further.
