Reliance New Energy Solar has recently acquired REC Solar Holdings.Reliance Industries has announced the acquisition of REC Solar worth $ 770 million (Rs 5,792 crore) from China National Bluestar (Group) Limited.
Reliance has acquired the company as part of its goal to bring net carbon to zero by 2035.
Recent similar deals include Adani, SB Energy, as well as Orix Greenco and GPS Avada.
All these companies aim for 10 per cent of clean energy in the next three years.
This will be the first significant agreement in the field of renewable energy with the acquisition of the company, which has an equipment manufacturing facility.
Mukesh Ambani-led Reliance Industries aims to set up a 100-Gigawatt solar company by 2030.It has decided to set up more than five 450 gigawatt capacity plants by the end of this decade.
Reliance Group aims to build four Giga factories manufacturing solar cells, modules, energy storage batteries, fuel cells and green hydrogen.
Mukesh Ambani said with recent investments that Reliance is now ready to set up a world-class integrated photovoltaic Giga plant.
He said India would be a hub for manufacturing low cost and best capacity solar panels.
