Reliance Industries Limited (RIL) signed MoU on January 13, 2022 with the Government of Gujarat for a total investment of INR 0.5955 million crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 1 million direct /indirect employment opportunities in the State. To make Gujarat net zero and carbon free, RIL proposes to invest INR 0.5 million crore in the State over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development.

RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen. In consultation with Government of Gujarat, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company has requested for 0.45 million acres of land in Kutch.

RIL will invest another INR 600,000 million in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells. Further INR 250,000 million investments will be made by RIL in existing projects and new ventures over next 3 to 5 years. RIL has also proposed to invest INR 75,000 million over 3 to 5 years for Jio Network upgradation to 5G and another INR 30,000 million over 5 years in Reliance Retail.