Stock Groups

India’s Reliance buys REC Solar for $771 million- statement By Reuters

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Labourers pose in front of Reliance Industries Limited’s advertisement at a Mumbai construction site, India on March 2, 2016. REUTERS/Shailesh Andrade/File Photo

NEW DELHI, (Reuters) – Reliance Industries Ltd bought REC solar Holdings from China National Bluestar Co Ltd for $771 million.

Reliance New Energy Solar Ltd (RNESL), which purchased the company, follows the June announcement made by its parent, the operator of the biggest refining facility in the world. It announced that over three years it would be investing $10.1 million in clean energy in order to achieve net carbon zero in 2035.

RNESL said in August it would invest $50 million in U.S. energy storage company Ambri Inc as part of a $144 million investment by Reliance Industries, along with billionaire Bill Gates, investment management firm Paulson & Co and others.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information, including buy/sell signal data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]