RIL expects green energy, the new growth engine for the group, to outshine its other businesses in 5-7 years, even as the company would expand its existing businesses to newer frontiers.
RIL has embarked on this journey with a “vision to repeat” the feat it achieved in wireless broadband, according to RIL chairman and managing director Mukesh Ambani.
RIL had started its green transformation in FY22 and at a scale which will make India the world’s leading green energy producer.
In June last year, the business conglomerate announced plans to invest $10 billion in renewable energy space over the next three years.
Under its clean energy business, RIL would focus on building technologies, scaling capacities and creating a new energy ecosystem for India and become net carbon zero by 2035.
The energy-to-telecom conglomerate’s contribution to the national exchequer jumped 38.8% to Rs 1.88 trillion in FY22 from Rs 1.35 trillion in FY21.
RIL, which became the first Indian company to cross $100 billion in annual revenues, also filed 152 patent applications in FY22, of which 123 were granted.