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