News > Reliance Industries completes acquisition of 40% stake in Sterling & Wilson Solar

Reliance Industries completes acquisition of 40% stake in Sterling & Wilson Solar

LiveMint | 11/02/2022 10:02 AM | Click to read full article

Billionaire Mukesh Ambani’s Reliance Industries Ltd on Thursday said it has completed the acquisition of a 40 per cent stake in Shapoorji Pallonji Group’s Sterling & Wilson Renewable Energy Ltd (SWREL) for Rs 2,845 crore.

Reliance had in October 2021 announced two back-to-back acquisitions — a USD 771 million buyout of Norway-based solar panel manufacturer REC Solar Holdings and purchase of a 40 per cent stake in solar Engineering, Procurement, Construction (EPC) firm SWREL.