New Delhi: Mukesh Ambani $ 10 Billion Dream Dream Dream will take the wings with the acquisition of Norwegian-based solar panel manufacturers Rec Holdings and 40% stake in Sterling & Wilson Solar, Shapoorji-Pallonji Group Company, with a combined agreement value of more than Rs 9,300 Crore.
Reliance New Energy Solar (RNESL), a fully owned (RIL) Reliance Industries (RIL) subsidiary, on Sundays acquired 100% share ownership of REC Solar Holdings US (REC) from China National Bluestar (Group) Co., for the value of the company $ 771 million (Rs 5,800 Crore).
Simultaneously, RnesL also runs a definitive agreement with Shapoorji Pallonji and the Company (SPCPL), Khurshed Daruvala and Sterling & Wilson Solar (SWSL) to obtain 40% post-money pegs in a series of transactions.
This transaction includes a 15.9% preferential allotment, the purchase of 9.7% of the shares of the promoter and an open offer for 26%.
Overall, transactions can require a total investment of up to RS 3,900 crore, depending on the price where the open offer is carried out.
This is the first step in green energy by the giant oil-to-retail and telecommunications.
Even though they might not match the acquisition of Adani Green Energy recently about SB Softbank’s energy for $ 3.5 billion, they showed Rnesl’s ambition to build a dominant position at the Global Green Energy Arena.
The acquisition of REC Solar will help release expand in the US, Europe, Australia and elsewhere in Asia.
40% of shares in Sterling & Wilson Solar will provide dependence on the ability to implement clean energy projects globally.
With 11-plus GW Turnkey solar projects run globally and more than five decades of engineering experience, SWSL is a leading EPC and O & M international service provider in the renewable energy sector.
The company has 3,000 strong teams and attendance in 24 countries.
Recruit of solar level polysilicon and solar panels and modules at facilities in Norway and Singapore.
It has more than 1,300 global employees, said Reliance Industries in a statement.
Dependence said it would use the REC technology to produce metal and solar silicon panels in Gigafactory proposed in Jamnagar in Gujarat with an initial annual capacity of 4 GW (Gigawatt), which will be raised to 10GW.
The acquisition of REC Solar is part of $ 2 billion – from the planned Generene $ 10 billion – Ambani which is intended for acquisitions to create clean energy capabilities.
“In line with our investment strategies in new and sophisticated technologies and operating capabilities that aim to achieve dependence goals to enable 100GW of clean and green energy before the end of this decade,” Ambani said.
RIL Increases the Solar Business with RS 9K Crore Offer
