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 (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