Reliance to get an edge in solar energy biz with two acquisitions, say analysts
NEW DELHI: India’s richest billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) gave a major push to the its ambitious solar business by acquiring two major firms on Sunday. RIL’s acquisition of Norway-based REC Solar Holdings is likely to give the company a major cost advantage when it comes to solar equipment manufacturing.
Analysts at Jefferies India said in a report that REC is the only company globally that has commercialised tech, which consumes 75% less power than Chinese competitors. “REC has implemented the fluidised bed reactor (FBR) tech for producing polysilicon on a commercial scale. The FBR process consumes 75-80% less energy than the traditional Siemens process that Chinese players use,” said the report.
