Business / Anant Ambani appointed to board of RIL's 2 new companies: Report

Mumbai: Anant Ambani has reportedly been appointed as director of Reliance New Energy Solar and Reliance New Solar Energy —entities that were set two weeks ago as part of Reliance Industries Ltd (RIL’s) clean energy push. Group Chairman Mukesh Ambani announced the company's foray into clean energy business with a planned investment of Rs 75,000 crore over the next three years while addressing RIL's 44th Annual General Meeting (AGM) on June 24.

Earlier in February, the younger son of Mukesh and Nita Ambani was appointed on the board of Reliance O2C in which Saudi Aramco is an investor. Anant also serves as a director on the board of Jio Platforms, on which his siblings Isha and Akash are also members.

During the AGM, the group chairman said he looks to rapidly transition RIL into a new era of green, clean and renewable energy by venturing into new energy and new materials business and presented his company’s vision to become net-zero carbon by 2035. He said the company will invest Rs 75,000 crore in the next three years in the new energy business.  

“We will transform our legacy business into sustainable, circular and net-zero carbon materials business,” said Ambani during RIL 44th AGM. 

RIL plans to build four Giga factories to manufacture and integrate all critical components of new energy ecosystem solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory, Ambani had said. These four factories will involve an investment of Rs 60,000 crore.

"We will invest an additional Rs 15,000 crore in the value chain, partnerships and future technologies, including upstream and downstream industries. Thus, our overall investment in the new energy business will be Rs 75,000 crore in 3 years," he further said.