India in Solar Energy Sector: Now Indian companies are going to dominate the world in the field of solar energy. Reliance New Energy Solar (RNESL) has acquired 100 per cent stake in REC Solar Holdings AS (REC Group) from China National Bluestar Company Limited for $771 million. Let us tell you, Reliance New Energy Solar Limited is a wholly owned subsidiary of Reliance Industries Limited (RIL). This will not only bring employment in the country but will also increase the status of India in the world.
REC is headquartered in Norway and has operational headquarters in Singapore and regional headquarters in North America, Europe, Australia and Asia-Pacific. REC Group is an international leading solar energy company leading the way in this field through its technological innovations and long lasting solar cells and panels for superior, high efficiency and clean, economical solar energy.
India will have many benefits
The purchase will be the largest contribution by a single company to PM Modi’s goal of producing 450 GW of renewable energy for India by 2030. It will help India to become a global leader in green energy transition to overcome the climate crisis. In addition, it will now be easier to set up a globally integrated photovoltaic giga factory and make India a manufacturing hub for the lowest cost and highest efficiency solar panels.
Will continue to invest, manufacture and collaborate with global companies for the highest reliability and efficiency to deliver high quality, reliable power at affordable prices to customers in markets in India and around the world. This purchase will create lakhs of green jobs in rural and urban areas in a decentralized manner.
employment opportunities will increase
Not long after, Reliance announced the purchase of 40% stake in solar engineering, procurement, construction (EPC) firm Sterling & Wilson Solar Limited (SWSL) in a multi-stage transaction of about Rs 2,845 crore. This will not only help India in the field of solar energy, but will also create employment opportunities for Indians.
India is constantly moving towards solar energy
India has made good efforts in the field of solar energy in the last few years. Under those efforts, 750 MW ‘Rewa Solar Project’ was inaugurated by Prime Minister Narendra Modi in Rewa, Madhya Pradesh. The project consists of three solar production units of 250-250 MW on 500 hectares of land located inside a solar park with a total area of 1500 hectares.
For the development of this solar park, financial assistance of Rs 138 crore was provided by the Government of India to Rewa Ultra Mega Solar Limited. This park has been developed by ‘Rewa Ultra Mega Solar Limited’. It is a joint venture of ‘Madhya Pradesh Urja Vikas Nigam Limited’ and the Central Public Sector Unit ‘Solar Energy Corporation of India’.
Also read: This company makes 14 different types of samosas, not 1-2, but the idea is also very different… know about this special start-up