Reliance buys Norway's REC Solar Holdings from China's Bluestar for $771 mn

This is the first major renewable energy deal, where an equipment manufacturing facility has been acquired

Twesh Mishra | New Delhi
Last Updated at October 11, 2021 01:52 IST

Photo: Shutterstock

Mukesh Ambani-controlled Reliance New Energy Solar, a wholly owned subsidiary of Reliance Industries (RIL), has acquired REC Solar Holdings (REC Group) from China National Bluestar (Group) Co. An RIL statement said the transaction is for an enterprise value of $771 million.

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