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Reliance Ind. Considers REC Solar Acquisition (M&A)
Reliance Ind., REC Solar
Date: 2021-09-03
Mumbai-based Indian industrial conglomerate Reliance Industries is reportedly planning to acquire Duke Energy Renewables subsidiary REC Solar for roughly $1 billion to $1.2 billion. Reliance is reportedly in talks with several unspecified lenders to support the transaction.

As previously reported, Reliance Industries, which focuses on the energy, petrochemical, natural gas, and other industries, plans to invest $8.1 billion over the next three years to build giga-factories for solar, green hydrogen, energy storage, electrolyzers, and fuel cells, including an integrated PV module factory in France.

REC Solar's annual production capacity stands at roughly 1.8 GW. (Source: Reliance Energy, PR, 2 Sept., 2021) Contact: Reliance Industries, www.ril.com; REC Solar, Singapre-based www.ril.com; REC Solar, Matt Walz, CEO, 805.471.0085, www.recsolar.com

More Low-Carbon Energy News Reliance Industries,  REC Solar,  


Reliance Solar, Bill Gates Invest in Green Power Storage (Int'l.)
Reliance Industries, Ambri
Date: 2021-08-11
Mumbai-based Reliance Industries Ltd subsidiary Reliance New Energy Solar Ltd (RNESL) reports it, along with Paulson & Co. Inc. Bill Gates, and other investors, have invested of $144 million in Massachusetts-based long-duration energy storage specialist Ambri Inc.

Ambri's patented 4-24 hour long- duration energy storage systems will break through the cost, longevity and safety barriers associated with lithium-ion batteries used in grid-scale stationary storage applications. RNESL and Ambri are also in considering a collaboration on a large-scale battery manufacturing facility in India.

Ambri caters to projects requiring from 10 MWh to over 2 GWh of energy storage systems and that are more economical than lithium-ion batteries. Ambri systems are well suited to peak times and high-usage applications, according to the release. (Source: Reliance Industries Limited, PR, 10 Aug., 2021) Contact: Ambri, www.ambri.com; About Reliance Industries Limited, Tushar Pania, + 91 9820 088536, tushar.pania@ril.com, www.ril.com

More Low-Carbon Energy News Solar+Storage,  Reliance Industries,  Bill Gates,  Renewable Energy Storage,  Energy Strage,  Ambri,  


Indian Oil Giant Commits $10Bn to Green Energy (Int'l. Report)
Reliance Industries
Date: 2021-06-28
Indian tycoon Mukesh Ambani, chairman, CEO and largest shareholder of Mumbai-headquartered oil refiner Reliance Industries Ltd. reports Reliance will invest 750 billion rupees ($10.1 billion) over three years in a new push away from fossil fuels to green energy.

Of the total, 600 billion rupees will be directed to four "giga factories" to manufacture solar modules, hydrogen, fuel cells and to build a battery grid to store electricity. An additional 150 billion rupees will be invested in value chain and other partnerships.

Reliance Industries, which earns 60 pct of its $63 billion (2020) annual revenue from oil refining and petrochemicals, is a Fortune Global 500 company and India's most valuable company by market value. (Source: Reliance Industries Ltd, 24 June, 2021) Contact: Reliance Industries Ltd., Mukesh Ambani, CEO, www.ril.com

More Low-Carbon Energy News Reliance Industries,  Renewable Energy,  

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