Eye on global energy market, Reliance buys REC Solar Holdings in $771-million deal.


Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of RIL, on Sunday said it has acquired 100 per cent shareholding in REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co for an enterprise value of $771 million (Rs 5,780 crore).

Headquartered in Norway, REC has its operational headquarters in Singapore and regional hubs in Europe, Australia, North America, and Asia-Pacific. The 25-year-old company has three manufacturing facilities — two in Norway for making solar grade polysilicon and one in Singapore making photo voltaic (PV) cells and modules.

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