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RIL has 15-year vision to be a new energy company: Report

Mumbai:  Oil and telecom major Reliance Industries (RIL) has a 15-year vision to become a new energy company aimed at turning into a net carbon-zero company, according to a report by BofA Securities.

The report says that RIL is open to working with global financial investors, reputed technology partners, and start-ups working on futuristic solutions. A key focus for RIL is renewable energy and for that, it intends to build an optimal mix of clean and affordable energy with hydrogen, wind, solar, fuel cells, and battery.

RIL energy company

 

As per the report, any potential clarity on the announced transaction with Saudi Aramco or the potential bidding for BPCL may act as a catalyst.

Noting that in last few months, the investor focus has been more on RIL’s digital and retail business, the BofA Securities report said, “While we expect momentum at its consumer business to continue and aid in potential multiple re-rating, we find RIL’s core O2C business well placed to generate sustained FCF. In this note, we look at key business drivers and roadmap for O2C business.”

Source: IANS