International Business: India’s Reliance swoops on solar capacity as part of net zero goal – Gulf Digital News

International Business: India’s Reliance swoops on solar capacity as part of net zero goal – Gulf Digital News

NEW DELHI - Indian conglomerate Reliance Industries Ltd on Sunday announced two deals to buy solar capacity, as the owner of the world's biggest refining complex seeks to become net carbon zero by 2035 and make India a hub for low-cost solar manufacture.

Through its unit Reliance New Energy Solar Ltd (RNESL), Reliance is buying Norwegian-headquartered solar panel maker REC Solar Holdings for $771 million from China National Bluestar (Group) Co Ltd and an up to 40% stake in India's Sterling and Wilson Solar.

Reliance in June said it would invest $10.1 billion in clean energy over three years.