Reliance Industries is now eyeing green energy, this business can prove to be a golden hen for the company.

Good news has come for Reliance Industries. In fact, industrialist Mukesh Ambani’s Reliance Industries could earn $10-15 billion by 2030 from new energy businesses ranging from 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.

Green energy market will be worth $30 billion

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 (green energy) is expected to grow from $10 billion at present to $30 billion by 2030. According to the report, “We estimate it to reach $ 200 billion by 2050.” The Reliance Group, operating from oil to telecommunications, has announced its entry into the hydrogen market along with solar manufacturing.

Plan to get 100 GW solar capacity

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.”