Reliance forays into partnerships, acquisitions & R&D for Green Energy
Category: #tech  By Mateen Dalal  Date: 2022-08-09
  • share
  • Twitter
  • Facebook
  • LinkedIn

Reliance forays into partnerships, acquisitions & R&D for Green Energy

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, reportedly announced that the firm has entered several partnerships, including equity investments, with regional and international corporations.

The firm selected entities that display unique execution capabilities and technological experience with a proven track record of innovation and a significant number of patents and intellectual property rights (IPRs) across the Green Energy value chain.

It is imperative to mention that Reliance’s endeavor to build New Energy’s capabilities led to investments and acquisitions worth more than US$ 691 million

According to sources, Reliance collaborated with UK-based Faradion, Lithium Werks in the Netherlands, and US-based Ambri in the space of energy storage.

Additionally, the Indian multinational conglomerate invested in Germany’s leading solar energy company NexWafe, for manufacturing monocrystalline silicon wafers needed to make solar panels.

Moreover, Reliance seized a 40% stake in Sterling & Wilson Renewable Energy, one of the leading MEP and EPC contractor companies for large-scale solar projects it has also obtained promoters' stake in REC Solar, a pioneer in solar panel manufacturing.

In the hydrogen space, Reliance collaborated with US-based Chart Industries to launch India H2 Alliance for commercializing hydrogen technology and creating a supply chain in partnership with other Indian stakeholders.

The firm has also inked a deal with Denmark's Stiesdal A/S for its groundbreaking next-generation electrolyzer technology, which can help significantly reduce the cost of producing hydrogen from pure water.

RIL has initiated the development of the Dhirubhai Ambani Green Energy Giga Complex (DAGEGC) on 5,000 acres in Jamnagar. This plant is the largest integrated renewable energy manufacturing facility worldwide.

For the record, Reliance has also inked an MoU with the Gujarat Government for a total investment of US$ 7.4 billion in Green Energy. These projects are expected to generate one million employment opportunities in the state.

Source credit - https://energy.economictimes.indiatimes.com/news/renewable/reliance-builds-technology-innovation-portfolio-for-green-energy-foray-through-partnerships-acquisitions-rd/93423828

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Stocks of luxury fashion houses raise in response to China’s reopening
Stocks of luxury fashion houses raise in response to China’s reopening
By Mateen Dalal

Luxury fashion houses dependent on Chinese customers reportedly saw a hike in stocks as China reopens, however, those clients may not necessarily be purchasing the goods elsewhere. In the past, wealthy Chinese customers would frequently buy person...

Microsoft investigates Teams and Outlook outage that left users disrupted
Microsoft investigates Teams and Outlook outage that left users disrupted
By Mateen Dalal

Microsoft, the U.S.-based technology frontrunner, reportedly investigating an outage that prevented thousands of customers from accessing services like Teams and Outlook. Apparently, the tech giant did not disclose the number of users that were im...

DeHaat secures $60 million in funding, tops $700 million valuation
DeHaat secures $60 million in funding, tops $700 million valuation
By Mateen Dalal

Indian agritech firm DeHaat has reportedly raised $60 million in a new funding round as it looks forward to strengthening its footprint in the country and touching break-even profitability in two years. For the unversed, the startup provides a range ...