Indian conglomerate Reliance Industries Limited (RIL) has signed definitive agreements to obtain a significant stake in SenseHawk for a total transaction value of $32 million. The transaction includes funding for future growth, product commercialisation, and research and development. The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022.
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Reliance Industries (RIL) has secured a $736 million green loan to fund its largest foreign acquisition, REC Solar Holdings in Norway, adding to a growing list of Indian corporations that are turning to sustainable finance to fund ecologically beneficial initiatives. This is RIL’s first green credit.
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Reliance New Energy Solar Limited (RNESL), the green energy subsidiary of Reliance Industries Limited (RIL), has offered Rs 375 per share to acquire 49.14 million equity shares of Sterling and Wilson Solar for around Rs 18.42 billion. The 49.14 million shares represent a 25.9 per cent equity investment in Sterling and Wilson Solar or the company’s entire public shareholding.
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Reducing the cost of green H2 depends crucially on two inputs: A combination of cheap RE and large-scale electrolysers reduces the cost of H2 by 75 per cent. Add in the potential for cheap financing via green bonds, expected to grow from issue volume of US $2 trillion this year to US $50 trillion by 2030, the possibility of government subsidies and the dream becomes an achievable tech-play.
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Reliance Industries, plans to invest $10.1 billion (Rs 75,000 crore) in renewable energy over the next three years in order to become a net carbon zero corporation by 2035.
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