Reliance acquires 79.4 pc stake in SenseHawk for USD 32 mn

Reliance Industries (RIL)   has acquired a 79.4% share in SenseHawk, a California-based early-stage software management solutions company. Through primary infusion and secondary purchase, the $32 million acquisition was made.

This transaction is expected to close before 2022, subject to requisite regulatory clearances and other usual closing conditions, according to an exchange filing. This acquisition benefits Reliance because SenseHawk speeds up the development of solar projects by automating and streamlining procedures from planning through production.

It  also offers a seamless digital platform for managing the entire lifecycle of solar assets. SenseHawk's Solar Digital Platform will provide solutions for pre-construction assessment, process optimization, construction management, and operations and maintenance in addition to its investments in new energy.

The Solar Digital Platform (SDP) from SenseHawk facilitates faster procedures by connecting engineering drawings and schemas to components on site, automating progress reporting, and improving team communication for the early detection and on-site resolution of difficulties.

To save time and effort, it also unifies stakeholders under a single interface. Teams can collaborate using the same map-based activities and have access to necessary data that has been mapped to a digital twin thanks to this functionality.

The SDP also includes tools for managing design options, managing land data, managing BOQs, and dashboarding with support for geographic information systems (GIS).

In line with his company's ambition for solar energy, RIL Chairman and CEO Mukesh Ambani said, "In collaboration, we will reduce costs, increase productivity, and boost on-time performance to offer the lowest LCoE for solar projects globally. It's a tremendously fascinating technological platform, and I have no doubt that SenseHawk will expand greatly with Reliance's help.

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