R-Power To Invest In Green Energy
Anil Dhirubhai Ambani Group (ADAG)-promoted Reliance Power (R-Power) would pay attention toward renewable and alternative energy resources such as hydroelectric, wind, solar and fuel cell-based power. The company is planning to invest Rs 60,000 crore in alternate energy sector. The company would also invest over Rs 12,000 crore in cement and shipping businesses through its fuel transportation arm, Reliance Natural Resources (RNRL). These projects would be set up near the power plant projects of the company. The company also intends to enter in solar energy sector in future.
The chairman of reliance power, Anil Ambani said the company would focus in water-abundant northeastern states of the country. It aims to generate about 5,000 MW from hydroelectric energy in these regions. Anil was here in Mumbai to address the annual general meeting (AGM) of the company. He said that the company believes in the uniform development of all regions of country. He termed, entry of private sector in nuclear energy, as a distant dream.
The global financial crisis can not affect the company as it maintains a good balance sheet. Reliance raised funds worth Rs 11,500 crore through the IPO.