Reliance Raises Battery Capacity Target Threefold to 120 GWh; O2C Remains Key Growth Driver.

Backed by its ₹6.62 lakh crore oil-to-chemicals (O2C) business, which continues to be the group's largest earnings contributor, Reliance Industries recently unveiled an aggressive expansion of its new energy plans, announcing that it will triple its battery manufacturing ambition to 120 GWh.

Speaking at the company's annual general meeting (AGM), Chairman Mukesh Ambani and Executive Director Anant Ambani outlined a series of milestones across Reliance's energy and materials businesses. The company said it has commissioned solar manufacturing lines, signed a $1.3 billion green ammonia export agreement, and advanced investments in chemicals and advanced materials, signalling a shift in its new energy programme from the construction phase to commercial operations.

The announcements underscore Reliance's strategy of leveraging cash flows from its traditional energy businesses to fund new growth engines spanning batteries, renewable energy, green hydrogen and advanced materials.

Despite accelerating its clean-energy ambitions, Reliance's O2C business remains the backbone of the conglomerate's financial performance. The segment reported revenue of ₹6.62 lakh crore and EBITDA of ₹60,546 crore in FY26, demonstrating resilience despite disruptions linked to the Strait of Hormuz conflict.

Company executives said the strong performance of the O2C business provides the financial strength needed to support Reliance's long-term investments in energy transition technologies while maintaining growth across its core operations.