Clean energy a $2 trillion opportunity for RIL: Bernstein report

RIL could potentially achieve around $10 billion of revenue from new energy business in 2030

Reliance Industries, Reliance, RIL
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Puneet Wadhwa New Delhi

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Reliance Industries (RIL) will be one of the key beneficiaries of India's clean energy opportunity over the next few years, suggest analysts at Bernstein in a recent report. It maintains an 'outperform' rating on the stock with a target price of Rs 3,040, an upside of nearly 20 per cent from the current levels.

"India targets solar capacity of 280GW and 5 million tonnes of green hydrogen production by 2030. We expect electric vehicle (EV) penetration will reach 5 per cent for passenger vehicles (PV) and commercial vehicles (CV), and 21 per cent for two-wheelers (2W). Clean energy could have a total addressable market (TAM) of $30 billion in 2030 ($10 billion currently). By 2050, we estimate the TAM could

First Published: Jun 14 2023 | 12:18 PM IST

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