Reliance powers up with REC acquisition

摘要

INDIAN conglomerate Reliance Industries is expanding its green energy ambitions with the $771 million acquisition of Norwegian solar panel manufacturer REC Solar Holdings, as it targets 100 gigawatts of clean energy by 2030. Reliance revealed over the weekend that it had struck a deal to acquire a 100% shareholding in REC from China National Bluestar. "It is in line with our strategy of investing in new and advanced technologies and operating capabilities aimed at achieving Reliance's goal of enabling 100 GW clean and green energy before the end of this decade," Reliance chairman Mukesh Ambani said. "This will constitute the largest contribution by a single company to Honourable Prime Minister Shri Narendra Modi's target for India to produce 450 GW renewable energy by 2030. "It will enable India to become a world leader in green energy transition."