Reliance to Expand Its Bioenergy Portfolio Beyond Oil and Gas

In the recent breaking development, multinational conglomerate company, Reliance Industries is seeking to widen its presence in the bioenergy segment - a step that would significantly broaden its new energy footprint while also speeding up its efforts to diversify its entire energy portfolio beyond oil and gas. 

Reliance has drastically boosted its compressed biogas plant aim to 100 in the next five years after building the first compressed biogas plant in ten months. The goal is to manufacture biogas from 5.5 million mt of agricultural residue and organic waste, so reducing roughly 2 million mt of carbon emissions and creating 2.5 million mt of organic manure yearly.

"Today every country and every corporate have a big responsibility to fight the climate crisis and save our planet. To make the world a better place for our future generations, we must act now and transition speedily from fossil fuels to clean, green and renewable energy. Reliance is carrying out this responsibility with multiple initiatives in new energy, including bioenergy," Reliance Chairman Mukesh D. Ambani said recently.

According to analysts the firm is having a strategic transformation to be a complete energy conglomerate, shifting away from its substantial Reliance on sales of transport fuels. To diversify its product line, the corporation is investing heavily in green energy, the bioenergy industry, as well as hydrogen and solar energy, and renewable fuels.