Recently, one of the Indian Billionaire Mukesh Ambani announced an INR 75,000 crore asset in situation up four ''Giga'' factories to make solar photovoltaic cells, green hydrogen, batteries, and fuel cells over the next three years.

Speaking at the company's annual shareholder meeting, Ambani said, “Reliance will set up 100 GW of solar power generating capacity. We plan to build four Giga Factories to manufacture and integrate all critical components of the new energy ecosystem – solar photovoltaic module factory, energy storage battery factory, electrolyzer factory, fuel cell factory."

These four factories will involve an investment of INR 60,000 crore.

Ambani added, "We will invest an additional INR 15,000 crore in the value chain, partnerships, and future technologies, including upstream and downstream industries. Thus, our overall investment in the new energy business will be INR 75,000 crore in 3 years."

Last year, he had announced a 15-year commitment to become net carbon zero by 2035.

"The age of fossil fuels, which powered economic growth globally for nearly three centuries, cannot continue much longer. In 2016, we launched Jio with the aim of bridging the Digital Divide in India. Now, in 2021, we are launching our new energy business with the aim of bridging the green energy divide in India and globally,” he adds.