M&A M&A
Reliance Industries looks to buy Norway's solar module maker REC
Source Mint (opens in a new tab)
Reliance Industries Ltd (RIL) is looking to buy Norwegian solar module maker REC Group as part of the oil refiner's INR 75,000 crore push into clean energy. REC Group has an annual solar panel production capacity of 1.8 GW and has installed around 10 GW capacity globally.
REC, founded in 1996, has regional hubs in North America, Europe and Asia-Pacific.