Reliance: reliance New Energy will buy a 20% stake in American solar power company Caelux, which will get this benefit
Reliance: Kelux works in the area of research and development of perovskite-based solar technology. The stake in this company will enable reliance New Energy in the field of high-efficiency solar module technology.
Reliance New Energy, a wholly owned subsidiary of reliance industries, has signed agreements to invest in Caelux Corporation, a US-based perovskite-based solar technology company. Klux works in the research and development of perovskite-based solar technology.
The ownership of this company is to describe the company as competent in the field of technology related to high-efficiency solar modules. This technology can help produce 20 percent more energy over a 25-year lifetime of a solar project at a much lower installed cost. reliance New Energy will invest $12 million to acquire a 20 percent stake in the US-based company. Caelus is headquartered in Pasadena, California, USA.
Reliance industries said in a statement issued on friday that the transaction will not require any regulatory approval and is expected to be completed by the end of september 2022. reliance industries Ltd on friday said it has acquired a 20 percent stake in California-based solar tech firm Caelux for USD 12 million as it strengthens its new energy manufacturing capabilities
