Mukesh Ambani, chairman of Reliance Industries, announced today that the company will invest in the construction of a 10 gigatonne solar energy capacity in Andhra Pradesh. He was speaking in Visakhapatnam at the Andhra Pradesh Global Investors Summit 2023.

"This morning, I am pleased to announce that we will continue our investments and will invest in 10 GW of renewable solar energy in Andhra Pradesh," Ambani said. He also stated that Reliance has invested more than Rs 1.50 lakh crore in its KG D-6 assets, which include developing and supporting gas pipelines.

Ambani stated that the natural gas produced by Reliance in the KG D-6 basin is currently fueling the country's clean energy transition and will contribute nearly 30% of its gas production. "This is just one example of how important Andhra is to the story of India," he explained.

"The growth of the Blue Economy in the coming decades will open up an ocean of new opportunities for Andhra Pradesh.

Andhra Pradesh has the second longest coastline in India and can benefit greatly from renewable ocean energy.

The two-day event is being held on the sprawling sports grounds of Andhra University, where about 200 stalls have been set up, including over 30 showcasing the various benefits of investing in Andhra Pradesh in 13 critical sectors identified by the government.

"Reliance was among the first corporations to recognise Andhra Pradesh's enormous economic potential.

In 2002, our Oil & Gas Exploration team discovered gas here. We have invested over Rs. 1,50,000 crores in our KG-D6 assets, which include the development and maintenance of a gas pipeline. Today, Reliance's natural gas produced in the KG-D6 basin is fueling India's clean energy transition and will account for nearly 30% of India's gas production "Ambani stated.

Retail Reliance "has partnered with over 1.2 lakh kirana merchants in 6,000 villages across Andhra Pradesh to provide them with the tools they need to thrive and succeed in the digital age. Reliance Retail's presence in Andhra Pradesh has resulted in over 20,000 direct jobs and a large number of indirect jobs "RIL's chairman stated.

He also stated that Jio's True 5G network will be fully operational throughout India, including Andhra Pradesh, by the end of 2023.