Mukesh Ambani Optimistic on Tapping Solar Energy
Filed Under: Business | Posted: 02/12/2013 at 3:50AM
Comments | Region: India
Mukesh Ambani, Chairman, and Managing Director of Reliance Industries Limited has announced his decision to incline towards solar energy, to meet the energy requirements in the wake of increased awareness about the use of alternative energy sources. While the conglomerate’s mainstay business revolves around hydrocarbons, they are keen on shifting their focus to renewable energy.
In an interview with CNN International, Mukesh Ambani claimed that they would endeavor to transform into a renewable based company from its hydrocarbon roots that included coal, oil, and natural gas, in the next few years. He added that solar energy would be at the heart of their activities. When asked about the repercussion of the military strike on Iran and its impact on the oil prices, he claimed that there is sufficient spare capacity in the system to eke out, during such turbulent phases.
On a high optimistic note, Mukesh Ambani reinforced his faith in the future of the country and its long- term growth and stated that the country boasts of a 100 billion people where each of them will contribute to the system and pave the way for its prosperity. Apart from India, he spoke highly of the US’s decision to be independent of foreign imports of energy, predicting that the country will attain this feat in the next five to seven years. He claimed that this fundamental transformation in the US energy is a great move that will benefit countries across the world, besides serving to be an impetus to the country’s economic growth.
He also mentioned that India is on a trajectory path where it is making a progress more than in terms of GDP growth. Speaking about the growth the company has witnessed, he claimed that the conglomerate’s market value was 30-40 million in the 1980’s when he began his voyage whereas it has grown manifold today, owing to the pool of opportunities available in the country. Citing his father’s business purpose that intended to bring a societal change rather than limiting to making profits, he claimed that they were able to create a number of millionaires out of ordinary individuals who invested in the company. He also agreed to reduce the disparities in the country and making an effort to create equality among individuals. He deemed that his father, who made his own fortune out of nothing, to be his role model.