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Marking a new pivot for one of the worldâs biggest fossil-fuel billionaires.
By Rajesh Kumar Singh and Debjit Chakraborty, Bloomberg
27 Jun 2021 00:25
Image: Prashanth Vishwanathan/Bloomberg
Indian tycoon Mukesh Ambani unveiled an ambitious push into clean energy involving 750 billion rupees ($10.1 billion) of investment over three years, marking a new pivot for one of the worldâs biggest fossil-fuel billionaires.
Reliance Industries Ltd., which gets 60% of its revenue from oil refining and petrochemicals, plans to spend 600 billion rupees on four âgiga factoriesâ to make solar modules, hydrogen, fuel cells and to build a battery grid to store electricity. An additional 150 billion rupees will be invested in value chain and other partnerships, Asiaâs richest man told shareholders on Thursday.
Asia s richest man plans $10 billion investment in green energy
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Our view: Project Tundra is risky, but it s a needed project in North Dakota - and the world
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OTHER VIEWS: Project Tundra is risky, but it s a needed project in North Dakota — and the world
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