Reliance to explore alternative energy segment

MUMBAI: Reliance Industries on Thursday said it will explore avenues in alternative energy, in a bid to further expand its position in the energy segment.

"The second potential avenue for growth and transformation is in alternative energy," RIL Chairman Mukesh Ambani said during the company's annual general meeting here. "This is a natural extension of our conventional energy portfolio."

He said further details would be shared "once the company has a concrete value creating plan in place".

Ambani added Reliance would commission two very large projects in the second half of this financial year, a move that will enable the company to become major global energy player.

The two projects, new Jamnagar refinery and East-West pipeline project, are focused on the energy growth platform and would help transform the country's energy security.

India needs energy security for sustaining its high growth and in the process Reliance is poised for a historic leap, Ambani said.

"Reliance is all set to become one of the the world's leading energy giants from India's number one company," he added.