Reliance Industries on Sunday announced it was acquiring one of the largest solar panel manufacturing companies, REC Solar Holdings AS (REC Group), for an enterprise value of US$ 771 million (around Rs 5,800 crore). “I am immensely pleased with our acquisition of REC because it will help Reliance tap the unlimited and year-long power of […]
New Energy To Pivot RIL Into Global Alternative Technology Supplier: Morgan Stanley – EQ Mag Pro
Reliance Industries Ltd.’s plan to provide solutions related to hydrogen, solar PV and grid batteries is “unique” and could allow it to stand out as “one of the most integrated infrastructure providers”, not just in India but globally, according to Morgan Stanley. “We expect silicon and hydrogen to emerge as the next decade’s ‘new oil’ […]
Why Reliance Industries Giga-Factory For Hydrogen Could Be a Game-Changer
Asia’s richest person, Mukesh Ambani, has a $10 billion plan to scale up zero-carbon hardware in India. Reliance Industries, the oil- and refining-heavy conglomerate that he controls, intends to develop four huge “ giga factories” to manufacture photovoltaic modules, batteries, fuel cells, and—importantly—electrolyzers to produce hydrogen. It’s a big plan, but short of details. Still, […]
Reliance Industries to face stiff competition in clean energy sphere
In the 44th Annual General Meeting of Reliance Industries Ltd (RIL) on June 24, Mukesh Ambani announced plans to enter the clean energy industry. He committed to invest Rs 75,000 crore over three years, making RIL the first Indian company ever to embark on a project this mammoth. Once completed, Reliance would join other global […]
Gautam Adani gives Rs 100 crore to PM Fund to fight coronavirus
New Delhi: Billionaire Gautam Adani on Sunday announced a Rs 100 crore contribution by his group’s philanthropy arm to the Prime Minister’s Fund to fight coronavirus outbreak. Adani joins Tata Group, Reliance IndustriesNSE -0.89 % and other corporates who have come forward to make contribution to fight the unprecedented crisis. “Adani Foundation is humbled […]
Brookfield Asset Management bets big on India
Brookfield Asset Management: A Canadian firm with $ 350 billion of assets under management and a 120 year heritage, seems to be favouring India, and is on a deal making spree in the country with acquisition of hotels, real estate and a massive gas pipeline. Just last week, an investment trust led by Brookfield bought […]
Adani Group announces ₹55,000 crore investment in Gujarat
The Gautam Adani-led conglomerate wants to invest across businesses such as data centers, renewable energy, copper, cement and chemicals to create economic assets in the state. The $11-billion Adani Group, which has interests ranging from ports and energy to real estate, announced an investment of ₹55,000 crore over the next five years in Gujarat. Adani […]