BENGALURU (Reuters) -India’s Reliance Industries Ltd said on Thursday it would invest 5.95 trillion rupees ($80.49 billion) in green energy and other projects in the western state of Gujarat, as the conglomerate targets net-zero carbon emissions by 2035.
The company will invest 5 trillion rupees over a span of 10 to 15 years to set up a 100 gigawatts renewable energy power plant and has already started scouting land for the project, it said in a filing to the stock exchanges.
The remaining sum will consist of 600 billion rupees for setting up solar modules and fuel cells and 250 billion rupees for investment in existing projects and new ventures over the next three to five years.
Reliance will also spend 75 billion rupees to upgrade its Jio telecom network and invest 30 billion rupees in its retail business.
“These projects will create 10 lakh (1 million) direct/indirect employment opportunities (in Gujarat),” Reliance said.
In June last year, Reliance had said it would invest $10.1 billion in clean energy over three years in a drive to become a net carbon zero company by 2035.
($1 = 73.9190 Indian rupees)
(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Aditya Soni)
