December 24, 2017 / 11:31 AM / 2 years ago

Reliance aims to become big clean energy provider: Ambani

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, speaks during a convocation at the Pandit Deendayal Petroleum University in Gandhinagar, India, September 23, 2017. REUTERS/Amit Dave/File Photo

MUMBAI (Reuters) - India’s Reliance Industries Ltd will become a major provider of clean energy in the country, Chairman Mukesh Ambani said, as the South Asian nation transitions to renewable energy sources from fossil fuels.

India is one of the world’s biggest users of coal, and renewable energy such as solar power is a priority for Prime Minister Narendra Modi’s government.

“Can Reliance become a leading provider of clean and affordable energy to India? Yes we can and yes we will,” billionaire Ambani said at a function on Saturday to mark 40 years of the company.

Reliance, owner of the world’s biggest refining complex and also a leading petrochemicals player, expanded its tie-up with BP earlier this year to meet India’s rising fuel and renewable energy demand.

Reliance can also be a global producer of innovative materials and among the top 20 companies in the world, Ambani said. He didn’t give details.

Reporting by Abhirup Roy and Promit Mukherjee; Editing by Hugh Lawson

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