SunstarTV Bureau: Mukesh Ambani will now rule over the Chinese company. Reliance New Energy Solar Limited (RNESL), a new company owned by Mukesh Ambani, the country’s richest man and entrepreneur, has bought a Chinese company. Reliance Industries bought the Chinese company REC Solar for $ 77.1 crore. The company made the announcement on Sunday. Mukesh Ambani says his company will soon provide cheaper electricity to customers in the Indian and foreign markets.
The company said in a press release that RNESL had bought a 100 per cent stake in REC Solar Horling from China National Bluestar (Group) Ltd. for $ 77.1 crore.
Mukesh Ambani said the acquisition would generate 100 gigawatts of clean and green energy by the end of the current decade. We have recently set up a global photovoltaic gig factory with other investors and a construction center. Mukesh Ambani said his company would provide reliable and affordable electricity to customers in the Indian and foreign markets.
Notably, the REC is headquartered in Norway. It is operating in Singapore. Its other centers are in North America, Europe, Australia and the Asia-Pacific. REC Group is an international solar energy company. It is a 25-year-old company.
