Mukesh Ambani to Challenge Gautam Adani in Solar Power Sector; Sets Bold New Targets

Mukesh Ambani's Reliance Industries Limited (RIL), already a diversified giant with a strong presence in oil, petrochemicals, telecommunications, and retail, is now setting its sights on a new frontier: solar panel manufacturing.

With this move, India's richest man is poised to take on established players like Gautam Adani’s Adani Group, Waaree Energies, and Vikram Solar in a sector critical to India's clean energy ambitions.

Reliance Industries Enters Solar Panel Manufacturing

Reliance Industries recently inaugurated its first solar panel manufacturing unit, signaling its serious intent to be a major player in India's renewable energy space. According to an investor presentation following its fiscal year 2024–25 earnings announcement, the company shared that it is not just stopping at solar panels but also planning to establish battery storage production facilities.

This move aligns with Reliance’s earlier commitment made in 2021, when it announced a $10 billion investment plan focused on renewable energy, storage, and hydrogen, aiming to achieve net-zero carbon emissions by 2035.

Mukesh Ambani vs Gautam Adani: A New Rivalry in Clean Energy

By entering the solar PV module market, Reliance Industries has directly joined the competitive race against seasoned players like the Adani Group, Tata Power Solar, Waaree Energies, and Vikram Solar. This intensifies competition in the Indian renewable energy market, which is rapidly expanding to meet national sustainability goals.

Reliance stated in its presentation,
"First line of solar PV modules (has been) commissioned,"
highlighting the beginning of a large-scale operation that will eventually compete at the highest level.

Government Push for Domestic Solar Manufacturing

The Indian government has mandated that from June 2026, all clean energy projects must compulsorily use solar PV modules made from domestically-produced cells. This policy aims to reduce dependence on Chinese imports and boost India's local manufacturing ecosystem, creating significant opportunities for companies like Reliance.

This regulatory push aligns perfectly with Reliance's strategic timing, ensuring it is well-positioned to capitalize on the demand surge for made-in-India solar products.

The Jamnagar Giga Factory: An Ambitious Clean Energy Hub

Reliance is constructing massive ‘giga factories’ on a 5,000-acre site in Jamnagar, Gujarat. These facilities will focus on producing a wide range of clean energy components, including:

• Photovoltaic (PV) Modules (solar panels)

• Battery storage systems

• Hydrogen electrolysers

• Fuel cells

Photovoltaic modules, commonly referred to as solar panels, are devices that convert sunlight directly into electricity using the photovoltaic effect.

Scaling Ambitions: From 10 GW to 20 GW Solar Capacity

Reliance has ambitious targets for its solar manufacturing capabilities.
According to V Srikanth Venkatachari, the Chief Financial Officer (CFO) of Reliance,
"The 10 gigawatt per annum capacity is designed in such a way that we can quickly jump it up to 20 GW,"
he said during the investor call.

This flexible design gives Reliance a strategic advantage to scale production rapidly based on market demands.

Focus on Battery Manufacturing

Battery storage is another critical pillar of Reliance’s renewable energy strategy. The company aims to achieve 30 GWh of battery manufacturing capacity. As per the investor presentation:
"20 GWh initial capacity (is) expandable in modular fashion."

This modular approach ensures that the company can incrementally expand its facilities in line with technological advancements and rising market requirements.

What This Means for India’s Renewable Energy Goals

With initiatives like Reliance’s aggressive entry, India moves closer to its target of installing 500 gigawatts (GW) of renewable energy capacity by 2030. Increased domestic manufacturing of solar panels and battery systems will significantly boost India’s self-reliance ("Aatmanirbharta") in the clean energy sector and create thousands of green jobs.

Conclusion

Mukesh Ambani’s bold move into solar panel manufacturing signals a transformative shift not just for Reliance Industries but for India's entire renewable energy ecosystem. With its first solar PV module line commissioned and massive plans underway for battery storage and hydrogen technology, Reliance is positioning itself at the heart of India's green revolution.

By directly challenging established players like Adani Group, Tata Power Solar, and Waaree Energies, Reliance is set to intensify competition, drive innovation, and accelerate India's push towards achieving 500 GW of renewable energy capacity by 2030.

As government policies increasingly favor domestic manufacturing and clean energy solutions, Reliance’s strategic timing and large-scale investments could redefine leadership in the sector. The battle between India’s two richest businessmen, Mukesh Ambani and Gautam Adani, now enters a new, future-defining phase — one that could significantly impact India's sustainable growth story.