New Delhi: Industrial Reliance Industries Ltd.
on Sunday announced the acquisition of solar rec to a company value of $ 771 million from China National Bluestar (Group) Co.
Ltd.
because it tried to be net zero carbon in 2035.
Purchasing Norwegian solar panel makers by the New Conglomerate Reliance ENERGY SOLAR LTD (RNESL) follows the announcement of June by parents – operators of the largest purification complex in the world – that it will invest $ 10.1 billion in clean energy for three years.
Reliance, owned by the richest person in Asia, Mukesh Ambani, plans to build solar capacity of at least 100 gigawatts (GW) in 2030, accounting for more than one fifth of the Indian target to install 450 gw at the end of this decade.
The group aims to build four “giga factories” to produce solar cells and modules, energy storage batteries, fuel cells and green hydrogen.
“Together with recent investment, Reliance is now ready to prepare global integrated photovoltaic GIGA factories and make India Hub manufacturing for the lowest cost and the highest solar panel efficiency,” Ambani said in a statement.
Rnesl said that in August it will invest $ 50 million in the energy storage company A.S.
Ambri Inc.
as part of an investment of $ 144 million by the reliance industry, along with billionaire Bill Gates, Paulson & Co.
investment management company.
Globally, majors of oil such as the Royal Dutch Shell PLC and BP PLC have also set goals to become net zero-carbon companies in 2050 amid pressure from investors and climate activists.
Solar installations around the world are set this year for their fastest growth in five years, according to the IHS Markit data research company.
Ambani said his company would continue to invest and collaborate with global players to provide reliable and affordable forces to customers in India and foreign markets.
Reliance said it would use rec technology in the PV panel that made Giga factory, with an initial annual capacity of 4 GW, finally up to 10 gw.
The acquisition will help the dependence grow on the main green energy market globally, including in the United States, Europe, Australia and elsewhere in Asia, he said, adding it would support the expansion of REC planned in Singapore, France and the United States.
Hijau Reliance Push comes when India increases the capacity of renewable energy, currently around 100 GW, to fulfill about the two fifths of electricity needs in 2030 below the Paris Climate Accord.
Reliance Buys Solar Rec for $ 771 million
