L R AS Published on Saturday 4 September 2021 - n° 372 - Categories:industrial strategy
Will India's Reliance take over REC Group?
Indian conglomerate Reliance Industries is reportedly in the process of acquiring solar panel manufacturer REC Group. The deal could be worth $1.2bn. The company is reportedly looking to borrow $500-600 million.
REC Solar has increased its panel production capacity to 1.8 GW per year at its Singapore plant. It has developed solar panels based on TOPCon N-type cells.
Reliance wants to launch a panel production unit in India with an investment of $10 billion, install 100 GW of solar, manufacture batteries and produce green hydrogen
https://www.pv-tech.org/reliance-industries-eyes-acquisition-of-rec-group-reports/
PV Tech of 2 September 2021
Editor's note: For several half-years, photovoltaic development in India has been expected. Only Indian manufacturers or developers are planning to conquer the world. They are setting up the conditions for this conquest. Soon, their emergence will surprise by its size and scope.
