Eyes Green Hydrogen Reliance Industries Ltd (RIL) has announced a massive Rs 75,000 crore investment plan in clean energy over the next three years, as part of its vision to become net carbon zero by 2035.

The company’s chairman Mukesh Ambani said that RIL will set up four giga factories focusing on solar, storage battery, green hydrogen and fuel cell, which will manufacture and integrate all the critical components of the clean energy ecosystem. The four giga factories will be located in Jamnagar, Gujarat, where RIL has its largest oil refinery complex. The company has earmarked 5,000 acres of land for the Dhirubhai Ambani Green Energy Giga Complex, which will be one of the largest integrated renewable energy manufacturing facilities in the world. “We will invest Rs 60,000 crore in these four giga factories,” Ambani said at the company’s 44th annual general meeting on Thursday.

He added that RIL will also invest Rs 15,000 crore in value chain partnerships and future technologies, including upstream and downstream industries. Ambani said that RIL’s new energy business will create and offer employment to over 10 lakh people in the next three years across India. He also said that RIL is highly inspired by Prime Minister Narendra Modi’s goal of achieving 450 gigawatts (gw) of renewable energy capacity by 2030. “Out of this, I am pleased to announce today that Reliance will establish and enable at least 100 gw of solar energy by 2030,” he said.