RIL Has Tied Up With Nexwaffe And Steisdal

RIL has tied up with these companies making semiconductors, hydrogen electrolyzers, know the special things related to the deal.

Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), announced two very important partnerships.

In a statement released late Tuesday, RNESL said it would invest 25 million euros in Germany’s Nexwaffe. In addition, the company announced a strategic partnership with Steisdal of Denmark.

The agreement was signed in the presence of Danish Prime Minister Mette Fredriksen and Prime Minister Narendra Modi.

RIL has tied up with these companies: According to Reliance, the investment in Nexsafe has been made as part of a strategic partnership for the Indian market.

In its statement, RNESL said that it will buy 86,887 Series-C Preferred Shares of Nexsafe at EUR 287.73 per share. Apart from this 36,201 warrants will also be issued to RNESL at the rate of 1 Euro.

Nexwaf manufactures monocrystalline silicon wafers used in semiconductors. Semiconductors are employed in all kinds of electronic devices.

Reliance Industries has told the stock exchanges that the raw material used in the monocrystalline silicon wafers that Nexwaf is developing and producing is extremely economical and their technology has eliminated many costly stages of production.

Importantly, Reliance will now have access to semiconductor technology.

Commenting on the deal, Mukesh Ambani, Chairman, Reliance Industries Limited said, “At Reliance, we always believe in being at the forefront of technologies.

Our partnership with Nexsafe testifies once again that we are embarking on an ambitious mission to meet the affordable green energy needs of India’s rapidly growing economy.

Our investment in Nexsafe is a significant step towards establishing India as a global leader in photovoltaic manufacturing.

We are confident that NEXWEF’s innovative ultra-thin wafer will bring benefits to solar panel manufacturers and consumers.

For Reliance, our foray into solar and other forms of renewable energy is much more than a business opportunity.

“This is our contribution to the global mission of saving the Earth and getting it out of the climate crisis.”

In a separate announcement, RIL’s Reliance New Energy Solar Limited (RNESL) has partnered with Steasdall to develop and manufacture hydrogen electrolyzers.

The agreement was signed during the visit of Danish Prime Minister Mette Fredriksen to India.  Steesdal is a Danish company, which develops technologies in the case of climate change.

Mukesh Ambani had announced to set up a Giga factory to manufacture hydrogen electrolyzers in Jamnagar, Gujarat.

Under this agreement, RNESL and Stistdal will combine their technical capabilities to advance the technology development of hydrogen electrolyzers.

It will also cooperate to set up its manufacturing facilities. RIL aims to generate 100GW of renewable energy by 2030.

On 10 October, Reliance New Energy Solar Limited (RNESL) announced the acquisition of Norway-headquartered REC Solar Holdings AS (REC Group).

The acquisition of REC is expected to make RIL a major player in photovoltaic (PV) manufacturing globally. REC has the best Heterojunction Technology (HJT) in the world.

Further, in another deal, RNESL said in a statement on October 10 that it will acquire a 40 percent stake in Sterling & Wilson Solar Limited (SWSL).

All these acquisitions and partnerships underline Reliance’s clean-energy ambitions.