Reliance to invest in RE, green hydrogen in Tamil Nadu

Reliance Industries Chairman Mukesh Ambani has said that they will make new investments in renewable energy and green hydrogen in Tamil Nadu. Ambani, who skipped the Global Investors Meet hosted in the state, sent in a video message, addressing the summit. He said that the conglomerate would work closely with the state government to promote sustainable development.

Ambani said that Tamil Nadu has become one of the most business-friendly states in the country and that he believes that the state would soon become a trillion-dollar economy. “Reliance has proudly partnered in Tamil Nadu’s growth over the years. We have opened nearly 1,300 retail stores across the state, investing over Rs 25,000 crores. Jio has invested over Rs 35,000 crores in Tamil Nadu, bringing the fruits of the digital revolution to 35 million subscribers in every town and village in the state,” he said.

The billionaire said that Reliance has partnered with Canada’s Brookfield Asset Management and US-based Digital Reality to set up a state-of-the-art data centre that will be opened next week.

Meanwhile, the Tamil Nadu government announced that it has signed investment pacts worth over $4.39 billion with firms such as Tata Electronics and Pegatron, both of which are suppliers for Apple, as well as auto major Hyundai Motors. Tata Electronics has committed to invest Rs 12,080 crore, while Pegatron has said it would invest Rs 1,000 crore.

JSW Energy committed to invest Rs 12,000 crore to develop renewable energy projects. Hyundai Motors committed Rs 6,080 crore, some of it earmarked for electric vehicle battery and car manufacturing.

Vietnamese EV maker VinFast agreed to set up its first manufacturing facilities in India and work toward an investment of up to $2 billion in Tamil Nadu.

Additionally, Tata Power stated that it plans to invest Rs 55,000 crore in wind and solar power generation in Tamil Nadu in the next 5-7 years.