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Energy

Reliance and Adani lead India's clean energy investment rush

Billionaire Ambani dives into new businesses as rival Adani cements green push

Two major conglomerates, Reliance and Adani, will drive investment in renewable energy in India. (Source photos by Reuters, Getty Images and screenshot from Reliance's website)

NEW DELHI -- All eyes have turned to India's renewable energy sector, where billionaire Mukesh Ambani has laid out ambitious multibillion dollar investment plans, at a time when fellow tycoon Gautam Adani is already going strong.

In a mega push into clean energy, Ambani's Reliance Industries, an oil-to-telecom conglomerate, recently announced plans to invest 750 billion rupees ($10.1 billion) in the sector in its bid to become net carbon zero by 2035. "The age of fossil fuels, which powered economic growth globally for nearly three centuries, cannot continue much longer," Ambani said, addressing shareholders on June 24.

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