News > Reliance New Energy Solar acquires 100% stake in Faradion Limited

Reliance New Energy Solar acquires 100% stake in Faradion Limited

Scroll | 31/12/2021 11:02 AM | Click to read full article

Reliance Industries’ clean energy arm, Reliance New Energy Solar Limited (RNESL), has signed definitive agreements to acquire 100% stake in Faradion Limited for 100 million pounds (over 10 billion rupees).

The announcement is in line with billionaire Mukesh Ambani’s ambitious plans of investing Rs 75,000 crore over the next three years to build a new clean energy business.