Green Energy Business Likely To Be In Focus At Reliance AGM
Ambani may offer a road map on listing or strategic sale of businesses including clean energy or even come up with high profile announcement on it, which may bring a disruption in the sector
The 45th annual general meeting of Reliance Industries is scheduled for Monday, August 29 and experts believe that among major announcement, RIL Chairman Mukesh Ambani will shed light on the green energy business. Ambani may offer a road map on listing or strategic sale of businesses including clean energy or even come up with high profile announcement on it, which may bring a disruption in the sector.
At last year’s general meeting, Ambani unveiled the Rs 75,000 crore investment plan over three years in the green energy segment. On Monday, he may share the specifics of where those Rs 75,000 crore will be invested. Reliance intends to create a complete green energy ecosystem right from solar to green hydrogen production. Ambani’s bullishness on the sector can be gauged by his statement at the last meeting when he said the green energy business will outshine all existing growth engines in just five-to-seven years.
Reliance will also invest in creating an ecosystem of thousands of small and medium scale project consultants and installers pan-India to set up green energy generation projects in every nook and corner of the country. Similarly, RIL will undertake large giga watt scale turnkey green energy projects for Power GenCos or large investors on its own. Apart from the focus on green energy at the annual meet, the company may also revive plants of an oil-to-chemicals demerged. JPMorgan has said that Reliance may not share exact timelines on initial public offerings of its retail and telecom businesses but it may offer some roadmap for the future.