M&A

M&A

RIL to sell Norway solar unit to Elkem for $22-M

BSE Announcement  

Publicly listed Reliance Industries Ltd (RIL) is to sell its 100% equity stake in REC Solar Norway AS for USD 22 million to Norway's Elkem ASA.REC Solar Norway is in the business of manufacturing kerf-based polysilicon in Norway. RIL will continue to retain the technology and intellectual property rights pertaining to kerf-based Polysilicon.REC Norway had reported a turnover of NOK 1.1 billion in CY2022 and a net worth of NOK 0.3 billion as of December 31, 2022.