Brookfield, RIL sign MoU to explore renewable opportunities in Australia

Brookfield Asset Management has entered into a Memorandum of Understanding (MoU) with Reliance Industries (RIL) to investigate the possibility of manufacturing renewable energy and decarbonisation equipment in Australia, according to a company statement.

“The MoU aims to both accelerate and de-risk Australia’s energy transition by enabling it to locally produce clean energy equipment such as PV modules, long duration battery storage and components for wind energy,” said the company.

Under the MoU, Brookfield will collaborate with RIL to assess potential capital investment and skill development opportunities in Australia’s renewable energy sector.