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Home / Headlines / Reliance acquires REC Solar Holdings for $771 million

Mukesh Ambani’s Reliance Industries Ltd (RIL) acquired REC Solar Holdings from China National Bluestar for $771 million on Sunday, as the conglomerate looks to cut down on carbon emissions.

"Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has announced acquisition of 100 percent shareholding of REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd., for an enterprise value of $771 million," Reliance New Energy Solar said in a BSE filing.

Mukesh Ambani’s Reliance Industries Ltd (RIL) acquired REC Solar Holdings from China National Bluestar for $771 million on Sunday, as the conglomerate looks to cut down on carbon emissions.

"Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has announced acquisition of 100 percent shareholding of REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd., for an enterprise value of $771 million," Reliance New Energy Solar said in a BSE filing.