Reliance is making big moves in green energy. The company is investing $10 billion to build clean energy factories in India. This plan is not new—Chairman Mukesh Ambani first announced it in 2021. But now, the progress is real. And analysts are getting excited.
On Friday, Reliance shared a big update. It said the green energy factories will be ready in four to six quarters. That’s just over a year. After that, the business will run on its own. It will make money from partnerships and deals for offtake and financing.
The Reliance green energy push is happening in Gujarat. The site is massive—44 million square feet. That’s nearly four times bigger than Tesla’s gigafactory in Nevada. The company is focusing on solar power, battery storage, and clean hydrogen.
Analysts are seeing this as the next big thing for Reliance. Right now, its oil-to-chemicals business makes up more than half of its revenue. But that part is slowing down. So this green shift may become the new engine of growth.
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Nomura, a global investment firm, said Reliance could become a world leader in solar and battery tech. It sees the new energy business as a strong long-term bet.
Emkay Global, another major firm, raised its valuation for Reliance’s green energy unit. It now values the business at ₹1.5 trillion (about $17 billion). That’s double the money Reliance has put into it.
Jefferies, a global investment bank, agrees. It said Reliance is well-positioned to benefit from the global shift to clean energy. It values Reliance’s solar business alone at $15 billion. The total group is now valued at $295 billion.
But not everything is perfect. Jefferies also warned of short-term issues. These include too much supply in the solar market and possible U.S. trade actions that may hurt Indian exports.
Still, most signs are positive. Reliance has the money, the land, and the vision. If things go well, this green energy business could one day match its oil empire in profit.
Chairman Ambani had already predicted this. He said last year that the clean energy segment could become just as big and profitable as oil in five to seven years.
India needs clean power. And Reliance seems ready to deliver. The world is watching.
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