Asia’s richest man to plow $10bn into green energy ...Qatar

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Asia’s richest man to plow $10bn into green energy
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Indian tycoon Mukesh Ambani unveiled an ambitious push into clean energy involving 750bn rupees ($10.1bn) of investment over three years, marking a new pivot for one of the world’s biggest fossil-fuel billionaires. Reliance Industries Ltd, which gets 60% of its revenue from oil refining and petrochemicals, plans to spend 600bn rupees on four “giga factories” to produce solar modules, hydrogen, fuel cells and to build a battery grid to store electricity. An additional 150bn rupees will be invested in value chain and other partnerships, Asia’s richest man told shareholders yesterday. The move towards green by the Mumbai-based giant, which reported an annual revenue of $63bn, offers a glimpse

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