Reliance New Energy to buy 20% stake in US-based Caelux for $12 million

two companies had come into planned partnership for technical collaboration and commercialisation of technology

Reliance new energy cliarifies that on 23 september to invest 12 million dollar

in US based Caelux to get 20% share in their company.

Caelux is the major company involved in development of perovskite based solar energy

reliance investment in this company is for getting advanced green energy manufacturing eco system

caelux will provide future technology to reliance in crystalline solar modules.

reliance is setting up a global integrated photovoltaic giga factory at jamnagar

now reliance will be able to produce more and cost effective solar modules.

transaction for acquiring will be completed in the end of september 2022