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India's richest man pouring $80B into green energy, including new ventures

  • 272 points
  • 7 days ago

  • @alok-g
  • Created a post

India's richest man pouring $80B into green energy, including new ventures


@ngcc_hk 6 days

Replying to @alok-g 🎙

Just hope the weight is not too much and misguided the market. He is not doing it by idea and building then it is bad. Just throwing money or power or … is bad.

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@sidcool 7 days

Replying to @alok-g 🎙

If Mukesh Abmani ties up with Elon Musk for Tesla's India expansion, it will be done faster than it was done in China. But may be wishful thinking.

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@keewee7 7 days

Replying to @alok-g 🎙

Why is wind not getting the same love as solar? Wind has a more proven track record than solar. Entire modern industrialized European countries have run on pure wind energy for several days at a time. If we could store and share that energy across borders we probably have the answer to most of our energy problems.

In the 2010s the efficiency of solar cells have been so exaggerated that some scientific journals felt it was necessary to enforce rigorous checklists and guidelines on that topic:

https://www.nature.com/articles/nphoton.2015.233

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@boringg 7 days

Replying to @alok-g 🎙

Now this is a statement!! At least compared to all the other wealthy philanthropists funds dipping their toes (see Breakthrough Energy Ventures - $1B who include Gates, Bezos, Benioff, Bloomberg, Branson, Ma, Hoffman, Soros, Steyer, Whitman, Zuckerberg, Lutke, Muskovitz). To be fair Mukesh (Chairman of Reliance) is also in on BEV.

I hope this is the beginning of a major transformation for India and continued global progress!

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@dirtyid 5 days

Replying to @alok-g 🎙

If we're going to have billionaires, might as well as incentivize them to invest the money in useful things. Elites during gilded age built many institutions, funded museums. I remember anecdote about gilded rich buying a town to redirect railway too close their manor with caveat that they paid everyone involved over market value for relocation. Is Zuckerburg doing the same in Hawaii? What are tech bros doing with their money apart from building fallout shelters in NZ. Bezos goes to space but can't fund Expanse season 6 with full episodes :-/.

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@bhupy 6 days

Replying to @alok-g 🎙

An excerpt from a 2020 Stratechery article (https://stratechery.com/2020/facebook-invests-in-jio-platfor...):

“Over the past two years, more than 200m Indian phone users have flocked to take advantage of arguably the greatest corporate gamble in the country’s history. Mukesh Ambani, India’s richest man, has spent $32bn building up his telecoms company Reliance Jio — the biggest private sector investment in India’s history — as he fights for dominance in the world’s second-biggest telecoms market by user numbers. Much of that money has been spent giving away free access to what Jio says is now the world’s largest mobile data network, with its clients consuming about three times the amount of data of an average European customer.

The launch of Jio has helped to engineer a socio-economic revolution in India. For the first time, millions of Indians are able to access the internet to register for benefit payments, download school textbooks or simply watch India beat Pakistan at cricket. The rapid growth in the telecoms network has encouraged some of the world’s biggest retail and technology companies to plough money into the country. Walmart this year announced the world’s largest ecommerce deal by buying 77 per cent of Indian online retailer Flipkart for $16bn. Google is beefing up its India team, while Netflix says it hopes to add 100m customers from the country.”

Hell of a legacy.

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@Tade0 7 days

Replying to @alok-g 🎙

> The bulk of that money — about $67.7 billion — will go toward a new power plant and hydrogen system, the company said in a stock exchange filing. Reliance plans to make the massive investment over a 10-to-15-year period, and has already begun scouting for land for the 100-gigawatt capacity site.

If I'm reading this correctly they want to build 100GW worth of solar capacity and a hydrogen plant for $67.7bln.

That's actually pretty cheap.

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@bwood 7 days

Replying to @alok-g 🎙

While on the topic of green energy, I recently started reading Electrify by Saul Griffith [0] which outlines a pretty comprehensive plan for addressing climate change with a broad shift to "electric everything". The summary is that by investing massively in renewables and electrification NOW, it we can solve climate change and also reduce the cost of living for everyone everywhere (not to mention the bonus of not irreversibly altering the climate).

If you are at all concerned about the future of our planet, IMO this is required reading!

[0] https://mitpress.mit.edu/books/electrify

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@drenvuk 7 days

Replying to @alok-g 🎙

that's enough for 10 or more nuclear plants or at least a lot of research into them. Why solar and hydrogen? Is it the fact that they're already in hydrocarbons?

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@reacharavindh 7 days

Replying to @alok-g 🎙

Rich men throwing their weight behind renewable power to make money. Good.

Public infra wise, it would be great if the government spends money in several directions

1. Setting up solar farms in the deserts of North west - Gujurat, Rajasthan where the land is obviously not being used for agriculture or industrial buildings. The industrial footprint of Gujurat will no doubt be thankful for the renewable power during the operational hours of the day coinciding with solar power generation.

2. Set up solar panels atop irrigation canals which not only generate power for agriculture, but also reduce fresh water evaporation.

3. Strengthen the power grid in populated areas to handle power generation from roof tops and let people make money by sending solar power into their grid. The Indian entrepreneurial public will find creative ways to generate power and make some money for themselves.

4. Add buffers that can absorb bursts in power production that can be used for later(or would have used peak power unnecessarily). Example - run drinking water pumping and filtration systems, sewage treatment systems, seawater desalination plants etc during peak solar production times of the day.

Easier said than done I know. But that’s what leadership should look like. Not triggering political divisions and trying to exploit emotions to stay in power.

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@johnmato 7 days

Replying to @alok-g 🎙

That's great initiative in which can definitely help the world in a positive light.

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@Shadonototra 6 days

Replying to @alok-g 🎙

one person shouldn't be able to hold this much power

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@visava 7 days

Replying to @alok-g 🎙



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