Business

Mukesh Ambani bought this company to revolutionize solar energy, deal done for so many thousand crores

Mukesh Ambani bought this company to revolutionize solar energy, deal done for so many thousand crores

Bought 100% stake in REC Solar Holdings.

Mukesh Ambani is very serious about renewable energy. In this regard, Reliance New Energy Solar Limited (RNESL) was established recently. Along with this, a funding of 75 thousand crores was also announced. Reliance New Energy said that it has bought 100 per cent stake in REC Solar Holdings from China National Bluestar Group. This deal has been done for $ 771 million (about 5500 crores).

Regarding this deal, Mukesh Ambani said that with the help of REC Solar, Reliance Industries will be able to make low-cost solar panels. In the coming days, India will become a manufacturing hub of solar panels. Ambani said that this company has been acquired because the company is working on a strategy to move forward in the direction of advanced technology. With this, India will be self-sufficient in making solar panels.

Ambani to spend $10 billion on clean energy

Let us tell you that in the Reliance Annual General Meeting in June, Mukesh Ambani had said that the company would spend 10 billion dollars in the next three years for clean energy. The company aims to be Net Carbon Zero by 2035. For this, Reliance New Energy Company was also formed which is a wholly subsidiary company.

This company is the leader of the solar energy sector

REC Solar Holdings is headquartered in Norway. The operational headquarters are in Singapore, while the regional hubs are in North America, Europe, Australia, Asia Pacific. It is an international and very big company in the field of solar energy. This company is an industry leader with the help of technology regarding solar energy. Solar panels manufactured by REC Solar Holdings are much cheaper, durable and more efficient.

Annual target of 4 GW solar energy production

Reliance’s plan is to prepare a panel with the help of this company’s technology. It will be manufactured at the Giga Factory of Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. The initial capacity of this factory is 4 GW of solar energy annually. It has to be increased to 10 GW.

Also read, After the sale of Air India, the government is preparing to sell its 4 subsidiary companies

Also read, Power Crisis: Has the power crisis increased due to the improvement in the economy? The world will drown in darkness!

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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