Reliance Industries acquires Norway's REC Solar for $771 million in order to expand its presence in the clean energy market

Daily Current Affairs / Reliance Industries acquires Norway's REC Solar for $771 million in order to expand its presence in the clean energy market

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Category : Business and economics Published on: October 11 2021

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Reliance New Energy Solar Ltd paid $771 million for Norway-based REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd.
REC Group is a solar energy company that manufactures high-efficiency, long-life solar cells and panels for clean, affordable solar energy.
REC pioneered the use of half-cut Passivated Emitter and Rear Cell (PERC) technology, which is now used by all major manufacturers.