Reliance Industries Ltd (RIL) is looking to buy Norwegian solar module maker REC Group as part of the oil refiner’s ₹75,000 crore push into clean energy, said two people aware of the development. Norway’s REC Group has an annual solar panel production capacity of 1.8 gigawatts (GW) and has installed around 10GW capacity globally. “We will target to achieve costs that are the lowest in the world to ensure affordability of our solar modules," Ambani said in his speech. “Reliance will establish and enable at least 100GW of solar energy by 2030. It currently has an installed renewable energy capacity of 89.63GW, with 49.59GW under execution.

Source: Mint July 07, 2021 19:41 UTC