Asia’s richest man continues to invest in clean energy

Reliance Industries, an Indian holding company, has entered into agreements to acquire a German solar cell manufacturer and to license technology from a Danish hydrogen electrolyser manufacturer. Mukesh Ambani, the owner of the holding and, by some estimates, the richest man in Asia, is actively investing in clean energy.

Source: bloomberg.com

Source: bloomberg.com

Reliance New Energy Solar has acquired the German company NexWafe for € 25 million. The company will also receive a license from Danish Stiesdal A / S to manufacture hydrolysers. The agreements concluded by the Indian giant are part of the overall strategy of the holding, the owner of which recently announced its intention to invest $ 10 billion in alternative energy technologies within three years. Thus, the holding is intensifying competition with another large Indian player – Adani Group, which has planned to spend $ 20 billion in renewable energy sources within 10 years.

Note that this is not the first acquisition of this kind for Reliance. Two days ago, it announced the purchase of solar panel manufacturer REC Solar Holdings AS from China’s China National Bluestar Group; in addition, the Indian giant acquired 40% of Sterling & Wilson Solar. The acquisition of NexWafe is expected to be closed by the end of October. Reliance intends to use the technologies of the German manufacturer for the construction of large factories for the production of solar panels in India.

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Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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