Ambani, Adani may face off in green energy

Reliance Industries (RIL) Chairman Mukesh Ambani’s $10-billion entry into renewable energy could drive solar tariffs further to the ground and ignite bidding wars with fellow billionaire Gautam Adani, according to industry analysts. India’s two richest men are vying to be at the forefront of Prime Minister Narendra Modi’s ambition to ramp up green energy capacity in the country by more than fourfold to 4,50,000 mw by 2030. They have mostly avoided operating in each other’s space. But the renewable energy push by Mr Ambani’s flagship RIL and the Adani Group of Companies would be the highest-profile faceoff between them.