The richest man in Asia, the Indian Mukesh Ambani, bought, with his conglomerate Reliance, the Norwegian solar panel maker REC Solar from the Chinese China National Bluestar, for 771 million dollars (about 666 million euros ), continuing to green its activities.
The oil and telecommunications giant announced in June its intention to invest $ 10 billion in renewable energies over the next three years, as India wants to reduce its dependence on fossil fuels.
This transaction should open up key markets in the green energy sector for the Bombay-based group, such as the United States, Europe, Australia and Asia.
This acquisition "will enable India to become a world leader in the transition to green energy to overcome the climate crisis," Ambani said in a statement.
Reliance aims to produce around 100 gigawatts of renewable energy by the end of the decade - nearly a quarter of the 450 gigawatt target set by Indian Prime Minister Narendra Modi.
REC Solar is headquartered in Norway and manages its operations from Singapore, with regional offices in North America, Europe, Australia and the Asia-Pacific region.
China National Bluestar is majority owned by giant ChemChina.
India is the third largest emitter of carbon in the world and is expected to become the most populous country by the middle of the decade.
Selection of products
To read also
Popular News
-
Old property prices are still falling but a recovery is taking shape
-
A report on anticipating the effects of +4°C warming reaffirms the need for housing adaptation
-
AI is already revolutionizing businesses in architecture, engineering, construction... according to Autodesk's "State of Design & Make" study
-
The slowdown in the decline in mortgage rates continues
Publi-editorial
-
EduRénov Plan: Rockwool unveils its Guide to successful energy renovation of school buildings
-
A new low-carbon C2S1 glue enters the “Responsible & Sustainable” range offered by PRB
-
Hydro'Way, Eco'Urba, StabiWay and Baltazar... permeable floor covering solutions from JDM Expert
-
Cleaning exterior wood: dedicated Owatrol solutions