Hong Kong (CNN Business)Indian billionaire Mukesh Ambani is going big on green energy. His conglomerate, Reliance Industries, announced Thursday that

India's richest man is pouring more than $80 billion into green energy

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2022-01-14 10:30:10

Hong Kong (CNN Business)Indian billionaire Mukesh Ambani is going big on green energy. His conglomerate, Reliance Industries, announced Thursday that it would allocate a whopping 6 trillion rupees (approximately $80.6 billion) to renewable power projects in the western Indian state of Gujarat, where it hopes to help generate a million new jobs.The bulk of that money — about $67.7 billion — will go toward a new power plant and hydrogen system, the company said in a stock exchange filing. Reliance plans to make the massive investment over a 10-to-15-year period, and has already begun scouting for land for the 100-gigawatt capacity site. The company also plans to create a new manufacturing hub that will be dedicated to the production of so

His conglomerate, Reliance Industries, announced Thursday that it would allocate a whopping 6 trillion rupees (approximately $80.6 billion) to renewable power projects in the western Indian state of Gujarat, where it hopes to help generate a million new jobs.