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Reliance’s big stake in solar energy, investment in this foreign company, partnership with Denmark’s Steesdal

Reliance's big stake in solar energy, investment in this foreign company, partnership with Denmark's Steesdal

Reliance’s investment in Germany’s Nexsafe

Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited, has announced significant partnerships. RNESL said that it will invest 25 million euros in NexWaf of Germany. Along with this, the company also announced a strategic partnership with Steesdal of Denmark. Nexwave manufactures monocrystalline silicon wafers used in semiconductors. Semiconductors are used in all types of electronic equipment.

According to Reliance, the investment in Nexsafe has been made as part of a strategic partnership for the Indian market. RNESL said in a statement that it will buy 86,887 Series-C preferred shares of Nexsafe at EUR 287.73 per share. Apart from this, 36,201 warrants will also be issued to RNESL for one euro.

Green energy mission launched

Regarding the deal, Mukesh Ambani, chairman of Reliance Industries Limited, said, Reliance has always believed in being ahead in the field of technologies. Our partnership with Nexsafe once again testifies that we are embarking on an ambitious mission to meet the affordable green energy needs of India’s rapidly growing economy.

“Our investment in Nexsafe is an important step towards establishing India as a global leader in photovoltaic manufacturing,” he said. We are confident that Nexwaf’s innovative ultra-thin wafer will bring benefits to solar panel manufacturers and consumers.

For Reliance, our foray into solar and other forms of renewable energy is much more than a business opportunity. It is our contribution to the global mission to save the earth and get it out of the climate crisis.

Partnership for the manufacture of hydrogen electrolysers

In a separate announcement, RIL said that Reliance New Energy Solar Limited (RNESL) has partnered with Stiesdal for the development and manufacture of hydrogen electrolysers. This agreement was recently signed during the visit of Danish Prime Minister Mette Fredriksen to India. Steesdal is a Danish company that develops technologies for climate change.

Let us tell you that Reliance has acquired two companies in the clean energy sector. RIL has bought 100% stake in solar panel maker REC Solar Holding from China National Bluestar (Group). The company also announced the acquisition of 40 per cent stake in Sterling & Wilson Power. This company does engineering, procurement and construction work in solar power projects.

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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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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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