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erienewsnow.com 14 Jan, 2022 10:15 am

India's richest man is pouring more than $80 billion into green energy - Erie News Now

India's richest man is pouring more than $80 billion into green energy - Erie News Now
By Michelle Toh, CNN Business

The company also plans to create a new manufacturing hub that will be dedicated to the production of solar panels, fuel cell technology and other renewable energy sources.Renewable energy is starting to take off in India.Reliance said the new initiatives stem "from the vision" of Indian Prime Minister Narendra Modi.In its statement Thursday, Reliance said it would use the remaining funds to invest "in existing projects and new ventures over next three to five years.

7 billion — will go toward a new power plant and hydrogen system, the company said in a stock exchange filing." Over that period, the company wants to direct $1 billion to upgrade its mobile network to 5G, and spend about $406 million on its retail arm.

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