RIL signs MoU for large investment
News: RIL has signed an MoU for a total investment of Rs.5.95 lakh crore in green energy and other related projects along with further investment in existing business segments like retail and Jio. Out of total investment, it will invest Rs. 5 lakh crore in Gujarat over the next 10-15 years to set up 100 GW renewable energy power plant and green hydrogen eco-system development.
Views: The investment proposal is in line with the company's plan towards creating clean energy ecosystem along with earlier acquistions in clean energy space. We expect steady cash flow from traditional businesses and strong balance sheet to support further investment in new energy verticals and will be value-accretive to the company.