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Reliance Industries unveiled new initiatives on the use of clean energy as it aims to become a net-zero carbon emissions company by 2035.

At the 45th Annual General Meeting (AGM) of Reliance Industries, Chairman and Managing Director Mukesh Ambani talked about the company’s plans to replace fossil fuels with renewable alternatives with a set of concrete actions.

“We have extensively started consuming biomass as fuel to produce green energy at scale. I am pleased to share that within a span of just one year, we have replaced almost 5 percent of energy consumption at our Dahej and Hazira sites by green power and green steam,” he said.

Over the last year, Reliance Industries has increased renewable energy consumption by 353 percent. It earlier also announced setting up Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat.

“Our aim is to establish and enable at least 100GW of solar energy by 2030,” Ambani added.

To achieve this goal, Reliance Industries will establish four Giga factories to produce photovoltaic panels, energy storage solutions, green hydrogen, and fuel cell systems.

Reliance Industries will also be building a Giga factory to produce power electronics—one of the key components to affect the transition. The factory will bring together power electronics and software capabilities to create affordable solutions at scale.

“In addition to solar energy, we are also actively progressing on bio-energy, offshore wind, and other non-conventional forms of renewable energy, and will continue to expand our manufacturing ecosystem,” the Chairman and Managing Director said.

Reliance also sees batteries as integral to providing long-duration energy storage for grid-scale renewable energy. It also aims to create an end-to-end battery ecosystem—from battery materials to cell manufacturing, leading up to developing battery packs and battery management systems (BMS).

Reliance has also entered into partnerships with companies such as Lithium Werks, Faradion and Ambri—each of them being an industry disruptor and offering superior chemistry and better performance.

To meet its captive energy requirement, Reliance will be investing Rs 75,000 crore in the Jamnagar complex to set up a new energy manufacturing ecosystem.

“Most importantly, Reliance aspires to make India a world leader in new energy manufacturing and a credible alternative to China,” Mukesh Ambani said.