Reliance Industries Ltd (RIL), has announced plans to invest ₹65,000 crore in Andhra Pradesh for the establishment of 500 compressed biogas plants (CBG). This marks the company’s most substantial renewable energy investment outside of Gujarat.

What Happened: Mukesh Ambani-led company will invest ₹130 crore for each plant to set the plants up in wastelands, Economic Times reported. The plants are expected to generate employment opportunities for 2.5 lakh people as per Andhra Pradesh state government estimates.

See Also: NBCC Secures New Work Orders Worth ₹448.74 Cr

Andhra Pradesh government had notified an integrated clean energy policy for biofuel projects. Under this, there is a 20% fixed capital subsidy on fixed capital investments in CBG plants for five years. The projects will also receive reimbursement on state goods and services taxes (SGST) and electricity duty for five years.

Reliance Industries will sign a memorandum of understanding (MoU) with the Andhra Pradesh industries department in the presence of Chief Minister N Chandrababu Naidu on Tuesday.

This investment is part of RIL’s larger plan to invest ₹75,000 crore in green energy projects over the next three years. This commitment was announced by Ambani at the company’s annual general meeting earlier this year.

Read Next: HAL Shares Are Down 23% From July Highs: Why This Analyst Wants You To ‘Buy The Dip’