Mukesh Ambani to invest in American company Caelux Corporation

New Delhi: The green energy sector is going to witness the competition of two of the country's richest industrialists. Gautam Adani, the world's third and Asia's richest person, and Mukesh Ambani, owner of Reliance Industries and India's second-richest man, both are giving a lot of emphasis on the green energy sector. Now Reliance New Energy Limited, wholly owned by Ambani's company Reliance Industries Limited, has announced a big investment in Caelux Corporation based in California, USA.

Reliance Industries has informed in a statement that its subsidiary Reliance New Energy Limited (RINL) will buy a 20 per cent stake in Caelux, the American company that develops the next generation solar technology. For this, Reliance New Energy will invest $1.2 million i.e. about Rs 100 crore. This investment is likely to strengthen the company in 'Advanced Solar Cell Technology,' which will prove to be helpful in strengthening Reliance's grip in the green energy segment in the coming time.

Mukesh Ambani's investment will give Calx growth opportunities on the technology front as well as help it gain a foothold in markets across the world, including the US. The two companies have signed a strategic partnership agreement for this. Actually, Caelux is known for perovskite-based solar technology. The company manufactures high-efficiency solar modules, which can produce 20 per cent more energy. The company's solar project makes electricity-generating technology for 25 years and its cost is also very low.

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