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Climate Change

Reliance Industries dives into green energy with $80bn investment

Mukesh Ambani eyes new opportunities from India's renewables push

Workers clean photovoltaic panels inside a solar power plant in Gujarat, India, where Reliance's investments are expected to create 1 million jobs.   © Reuters

MUMBAI -- Reliance Industries is poised to ride India's growing shift toward green energy with a new 5.96 trillion rupee investment package ($80.6 billion) focused on the renewables sector in Gujarat, the state that served as the springboard for Prime Minister Narendra Modi's political career.

Traditionally driven by its petrochemical business, the Indian conglomerate has been making inroads into new and cleaner fields in recent years. It announced Thursday that it had signed a memorandum of understanding regarding its new investments with the government of Gujarat.

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