Reliance's Rs 75,000 cr plan can truly democratise access to energy in India, unlock potential of solar power
FirstpostThis 25-year plan combines new technologies, with economies of scale and industrial heft and the ability to deliver in bulk and on time While the next Jio phone caught all the attention at Thursday’s Reliance AGM, possibly the biggest announcement with the greatest potential for India went entirely unnoticed. Democratising access to energy While this deals with static energy generation, there were two other major announcements — eco-friendly production of hydrogen and fuel cells that can power automobiles in the future. Considering that India spends between $110 and $190 billion a year on energy imports depending on prices, this frees up a huge part of the national budget, allowing for this money to be diverted to more useful things within the country, and for the first time promises India significant energy self-reliance in its modern history. Let’s be clear this isn’t a short-term plan — rather, it’s a 25-year one, combining demonstrated new technologies, with economies of scale and industrial heft and the ability to deliver in bulk and on time.