Mumbai: Reliance New Energy Limited (“Reliance”), a wholly owned subsidiary of Reliance Industries Ltd, has today signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV (“Lithium Werks”) for a total transaction value of US$ 61 Million including funding for future growth. The assets include the entire patent portfolio of Lithium Werks, manufacturing facility in China, key business contracts and hiring of existing employees as a going concern. Founde...Read More

New Delhi: A total of 10 companies submitted their bids under the Advanced Chemistry Cell (ACC) Battery Storage Programme in India for which Request for Proposal (RFP) was released by Ministry of Heavy Industries (MHI) on 22nd October 2021. The scheme was open for receiving applications till 11:00:00 hours IST on 14th January 2022 and the Technical Bids were opened on 15th January 2022. The manufacturing facility would have to be set up within a period of two years. The incentive will be disbu...Read More

Gandhinagar: Reliance Industries Limited has signed a Memorandum of Understanding (MoU) today with the Government of Gujarat for a total investment of Rs. 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the State. Shri Parimalbhai Nathwani signed MoU for Reliance Industries Ltd while Dr. Rajiv Kumar Gupta signed MoU for the Government of Gujarat. Continuing its commit...Read More

Mumbai: Reliance New Energy Solar Ltd (“RNESL”), a wholly owned subsidiary of Reliance Industries Ltd. today in a a statement said it has signed definitive agreements to acquire 100% shareholding in Faradion Limited (“Faradion”) for an enterprise value of GBP 100 Mn. In addition, RNESL will also invest GBP 25 Mn as growth capital to accelerate commercial roll out. Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory a...Read More

Mumbai: Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (RIL), and Denmark-based Stiesdal A/S (Stiesdal) signed a cooperation agreement for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India. The agreement was signed during a state visit of Denmark to India and announced in the presence of the Hon’ble Mr. Narendra Modi, Prime Minister of India and the Hon’ble Ms. Mette Frederiksen, Prime Minister of De...Read More

FREIBURG, Germay: NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its EUR 39 million ($45 million) Series C financing round with an investment of EUR 25 million ($29 million) in phase one. The investment by Reliance will accelerate product and technology development for NexWafe, including completion of the commercial development of NexWafe’s ...Read More

Mumbai: Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd (Reliance), today executed definitive agreements with Shapoorji Pallonji and Company Private Ltd (SPCPL), Khurshed Daruvala and Sterling & Wilson Solar Ltd (SWSL) to acquire 40.0% stake post-money in SWSL through a series of the following transactions: a) Preferential allotment of 2.93 crore equity shares (equivalent to 15.46% post preferential share capital) at a price of Rs. 375.0 per s...Read More

Mumbai: Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), has announced acquisition of 100% shareholding of REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd., for an Enterprise Value of USD 771 million, said the company in a statement. REC is headquartered in Norway and has its operational headquarters in Singapore and regional hubs in North America, Europe, Australia, and Asia-Pacific. REC Group is an international...Read More

Mumbai: Reliance Industries (RIL) Chairman Mukesh Ambani, on September 3, reiterated his commitment to invest Rs 75,000 crore over the next three years in green energy initiatives, including the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, as the global energy behemoth shifts its focus from hydrocarbons to renewable power. Addressing the International Climate Summit 2021, Ambani said that work was happening at a brisk pace to develop the 5,000-acre Giga Complex, which would be one ...Read More

Mumbai: Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), along with strategic investors Paulson & Co. Inc. and Bill Gates, and a few other investors, has announced an investment of USD 144 million in Ambri Inc, an energy storage company based in Massachusetts, USA. The investment will help the company commercialise and grow its long-duration energy storage systems business globally. RNESL will invest USD 50 million to acquire 42.3 million shares ...Read More