Reliance AGM 2026: From Refineries to Renewables and AI

Mumbai, June 21: For decades, the name Reliance Industries conjured images of refineries and petrochemicals. At the company’s 49th Annual General Meeting on Friday, Chairman Mukesh Ambani made clear that era is giving way to something more ambitious — a bet on green energy and artificial intelligence that could reshape how India powers itself and competes globally.

The centrepiece of Reliance’s energy transformation is a 5,000-acre complex outside Jamnagar in Gujarat. The company calls it the Dhirubhai Ambani Green Energy Giga Complex, and it is being developed into one of the world’s largest integrated clean energy hubs outside China. Reliance is building what it describes as a fully sovereign clean energy ecosystem — controlling the entire chain from manufacturing to generation. No other company has attempted this at scale.

The Jamnagar complex already has its first gigawatt-scale solar line running, producing panels that deliver 10 per cent higher energy yield and 25 per cent lower degradation than standard alternatives. A 40 GWh battery giga factory, slated for commissioning by late 2026, sits alongside a multi-gigawatt electrolyser facility. Executive Director Anant Ambani, who addressed the AGM on new energy, said the Kutch and Jamnagar projects together are expected to create around two lakh jobs. “The world built its old energy on Middle Eastern oil,” he said. “The world will now build its new energy on Indian sunshine.”

Beyond manufacturing, Reliance is developing one of the world’s largest single-site renewable energy hubs in the Kutch region, targeting round-the-clock power through solar generation integrated with battery storage. Key green energy announcements include:

Green Energy: Key Announcements

• 5.5 lakh-acre renewable energy hub in Kutch targeting over 40 billion units of green electricity annually — around 3% of India’s current power demand
• 100 GW of renewable energy capacity targeted by 2030
• 3 million metric tonnes of green hydrogen equivalent chemicals capacity over the next decade
• Green derivatives including ammonia, methanol, and sustainable aviation fuel for export via Jamnagar and Kandla ports

On the AI front, the 49th AGM focused on execution. Reliance announced plans to build one of the world’s largest AI computing platforms at Jamnagar, powered entirely by renewable energy. The first phase — 120 MW — is expected operational by end-2026, deploying Nvidia GB300 GPUs equivalent to over 75,000 H100 units, with potential to scale beyond 200,000. Jio users can access Google AI Pro powered by Gemini at no extra cost, while a Meta deal will bring the Llama AI ecosystem to Indian enterprises through sovereign hosting. Key AI announcements include:

Artificial Intelligence: Key Announcements

• Jio Bharat IQ, JioHealth IQ, JioLearn IQ and JioKrishi IQ — sector-specific AI services across 22 Indian languages
• Hey Jio — an AI call assistant built into the Jio network with no app needed, able to transcribe calls, identify speakers, summarise conversations and complete tasks like bookings
• Jio Teleframe — an AI-powered operating system for connected homes, handling schedules, healthcare reminders and entertainment
• Google AI Pro (Gemini-powered) free for Jio subscribers; Meta Llama ecosystem for Indian enterprises via sovereign hosting

Taken together, the 49th AGM sketches out a company in the middle of a generational reinvention — using cash flows from its legacy oil and retail businesses to fund two of the most capital-intensive industries of the coming decade. The ambition is unmistakable. Whether the execution matches it will define Reliance’s next chapter.