Billionaire Ambani to Build Wind Power Factory With Partners
- Reliance to seek global collaborators for wind power expansion
- Carbon fiber plant will be built in Gujarat to cut costs
Mukesh Ambani
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
Indian billionaire Mukesh Ambani said his Reliance Industries Ltd. will expand into wind power equipment with the help of more established firms to boost the conglomerate’s suite of clean energy products.
Reliance will partner with “global leaders” in the renewable technology to offer cost-efficient turbines, Ambani told shareholders Monday at the company’s annual general meeting. The firm is building a carbon-fiber plant in Gujarat to reduce raw-material expenses for blades, he said without naming the partners for the wind project.