Mumbai: Reliance Industries Limited (RIL) Chairman Mukesh Ambani is going to buy Norwegian solar module maker REC group in view of clean and green energy projections. According to media reports, the purchase comes in the wake of its announcement of a Rs 75,000 crores investment in clean energy. Some such companies may be reported to be purchased in the coming days.

Reliance Industries (RIL) Chairman Mukesh Ambani had announced at his 44th AGM that the company would invest Rs 75,000 crore in the clean energy business in the next three years. He had said that RIL is starting a new energy business in India and globally with the intention of bridging the green energy divide. Ambani had said that he would transform his old business into a sustainable, circular, and pure-zero carbon material business.

Speaking of Norway's REC group, its annual solar panel production capacity is 1.8 GW and has set up a 10 GW capacity globally. Established in 1996, REC has regional centers in North America, Europe, and the Asia-Pacific. However, RIL has not yet made any statement on the issue.

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