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RIL's foray into renewables-I: Sights set right
Jul 25: RIL's chairman Mukesh Ambani said last week that his company will invest in new sources of energy, aiming for leading positions in renewables.
Ambani clearly has his sights right.
8A niche energy market now, renewables will be much bigger by the middle of the next decade, as oil and gas demand growth slows.
8A simple comparison of sector revenues shows that the global renewables market will narrow the gap with oil and gas -- the latter is 33 times bigger in 2015, but just 13 times the scale in 2035.
8Projections show overall revenues from renewables in 2035 will be nearly three times greater than those from US unconventionals -- the industry’s number one growth segment -- in a carbon constrained case.
8That said, renewables costs will trend down sharply over the period, and capital will be increasingly diverted from upstream E&P projects by global oil & gas majors, and now RIL, to build material positions in wind and solar.
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