Reliance New Energy Ltd (RNEL), a wholly owned subsidiary of Reliance Industries Ltd, is investing $12 million for a 20 per cent stake in Caelux Corporation. Caelux, based in Pasadena, California, US, is engaged in the development of perovskite-based solar technology.
Its proprietary technology enables high-efficiency solar modules that can produce 20 per cent more energy over the 25-year lifetime of a solar project at significantly lower installed cost. Perovskite is a calcium titanium oxide mineral and devices made from this commodity offer better efficiencies.
Reliance is setting up a global-scale integrated photovoltaic giga factory at Jamnagar, Gujarat. Through this investment and collaboration, the Mukesh Ambani-led firm said it will be able to produce more powerful and lower-cost solar modules leveraging Caelux’s products.
