India’s green-energy goals hinge on the success of two of the country’s billionaires, Mukesh Ambani and Gautam Adani, as they pivot their business empires toward renewable energy.
Last week, Reliance Industries helmed by Mr. Ambani, said it will consider doubling its investment in clean-energy hardware manufacturing, once current plans are achieved. India’s most valuable company previously unveiled plans to build four giant factories in India, for production of photovoltaic panels, energy storage, electrolyzers for green hydrogen, and fuel-cell systems. It has now announced a fifth facility: a power electronics plant, to make the equipment used to link up new-energy systems.
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