India could export $500-bn green energy over 20 years: Mukesh Ambani3Photo© news18.com

India could export $500-bn green energy over 20 years: Mukesh Ambani

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Mukesh Ambani, chairman and managing director of oil-to-telecom conglomerate Reliance Industries Limited (RIL) said on Wednesday that India’s green energy exports would cross $500 billion in the coming two decades. The statement comes at a time when RIL has started aggressive expansion into the green energy sector with solar equipment manufacturing, green hydrogen production and energy storage.

Speaking at the Asia Economic Dialogue, Ambani said India’s green energy exports will follow the growth trajectory of the country’s technology and digital exports. “India’s technology and digital exports have risen to $150 billion from less than $10 billion 20 years ago. By 2030, I believe they will exceed half a trillion dollars. Similarly, India’s Clean and Green Energy exports in the next 20 years at the end of 20 years also has the potential of half a trillion dollars of export.”

In June last year, RIL announced its foray into green energy with a Rs 75,000-crore investment in the coming three years. It has plans to invest in solar power generation and manufacturing, hydrogen production, e-fuels, and energy storage under its “New Energy and New Materials” division.