Reliance 49th AGM: Battery capacity to green hydrogen progress; what investors should know about new energy plans

Reliance Group’s flagship company, Reliance Industries’ Executive Director, Anant Ambani, during the 49th annual general meeting, shed light on the progress of the new energy business as the industry major moves towards solving energy security, affordability, and sustainability needs in India.

Market experts were expecting the company to share further context about Reliance’s new energy plans and progress ahead of today’s meeting, as the energy major focuses its attention towards creating battery storage capacity and green hydrogen.

Reliance’s battery capacity progress

Addressing the shareholders, ED Anant Ambani said that in the financial year 2025-26, Reliance commissioned the Dhirubhai Ambani Green Energy Giga Complex, a 5,000-acre facility at Jamnagar, as the company seeks to become one of the world's most integrated clean energy manufacturing ecosystems.

He also said that the company’s solar PV cell and module manufacturing lines have been commissioned and now remain operations producing 2% higher energy yield than conventional modules.

“Nearly one gigawatt of HJT modules have been produced with around 2% higher energy yield, 15% better temperature performance, and 25% lower degradation than conventional modules,” said Anant Ambani.

Reliance Industries is now working towards building a 20 gigawatt (GW) per annum of fully integrated battery capacity to manufacture products like polysilicon, ingots, wafers, cells, modules, and glass.

The first phase of Reliance’s 40 GWh cell factory is set to be commissioned in the current fiscal year, as all the equipment has already been delivered to the site.

“We have now committed to scale this up to 120 gigawatt hours of annual capacity,” said Anant Ambani, emphasing that this move is expected to make Reliance one of the world’s largest manufacturers of lithium-ion phosphate batteries.

Investors should be aware that these lithium-ion phosphate batteries are used in several industries, like to produce electric vehicles, tools, energy storage systems used in data centres, etc.

Market experts predict that amid India’s overall data centre push and better tax framework for the related sectoral companies, the actual gainers are likely to be the industrial equipment manufacturers and the battery makers.

What’s Reliance’s renewable energy progress?

Reliance’s renewable energy progress shows that the company is developing a renewable energy hub across 550,000 acres of land to deliver round-the-clock power at a gigawatt scale, leveraging its solar and battery storage systems, according to the latest announcement.

“Once fully operationalised, the integrated hub will generate over 40 billion units of green electricity every year, which is approximately 3% of India's annual electricity requirement,” said Anant Ambani in his address on Friday.

Reliance aims to make this renewable energy hub one of the lowest-cost resources for green power anywhere in the world.

Green hydrogen & chemicals

Anant Ambani also told the shareholders that Reliance is on track to commission our alkaline electrolyser manufacturing gigafactory, which will monetise through the production of green molecules, green urea, urea ammonium nitrate, UAN (Urea Ammonium Nitrate) for fertilisers, among other things.

“Reliance has signed a landmark $3 billion long-term supply agreement with Samsung CNT for green ammonia, which is among the largest green ammonia offtake contracts in the world,” said Ambani in his shareholders' address.

With this move, Reliance aims to ensure commercial competitiveness for its green hydrogen platform as the company remains in advanced talks to fuel more exports to geographies like Japan, Korea, and Europe.

“Our target of 3 million metric tons of green hydrogen equivalent green chemicals capacity in the next 10 years remains firmly in our sight,” said Ambani.

Reliance Industries Chairman, Mukesh Ambani, in his address at the AGM, also reiterated that he is confident that RIL’s new energy business is set to become a future growth factor for the company.

“I am absolutely confident that soon the new energy has the potential to become one of the largest burning engines for Reliance,” said Mukesh Ambani in his shareholders' address at the AGM.

Reliance shares closed 1.4% lower at ₹1,309.50 after the trading session on Friday, June 19, 2026, compared to ₹1,328.10 at the previous market close, according to NSE data.