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Reliance Industries plans to acquire solar module manufacturer REC Group

Reliance Industries plans to acquire solar module manufacturer REC Group
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India's Reliance Industries looks to acquire Norwegian solar module maker REC

Photo:Mint
July 8, 2021
Reliance Industries Ltd (RIL) is looking to buy Norwegian solar module maker REC Group as part of the oil refiner’s ₹75,000 crore ($10 billion) push into clean energy, said two people aware of the development.
Chairman and managing director Mukesh Ambani had announced plans to set up the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar at the company’s annual general meeting last month. The complex will have an integrated solar photovoltaic (PV) module giga factory.
Norway’s REC Group has an annual solar panel production capacity of 1.8 gigawatts (GW) and has installed around 10GW capacity globally. REC, founded in 1996, has regional hubs in North America, Europe and Asia-Pacific. ....

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U.S Blocks Solar Materials Made in China

The move targeting Chinese manufacturer Hoshine Silicon Industry (Shanshan) Co., Ltd., announced Thursday, has implications for solar’s supply chain and could force U.S. companies to find material elsewhere. It comes after both the Trump and Biden administrations accused China of “genocide” in a campaign to erase the culture of the predominantly Muslim Uyghurs.
“Personnel at all U.S. ports of entry have been instructed to immediately begin detaining shipments that contain silica-based products made by Hoshine,” the White House said in a statement. “The United States will not tolerate forced labor in our supply chains.”
The steps fall short of a broader ban that had been sought by some activists, organized labor and lawmakers. But a person familiar with the U.S. move, who spoke anonymously before the announcement was made, said further actions may follow and investigations are ongoing. ....

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U.S. Blocks Some Solar Materials Made in Xinjiang Region - Governors' Wind Energy Coalition

U.S. Blocks Some Solar Materials Made in Xinjiang Region - Governors' Wind Energy Coalition
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Solar Panels Market Size to Reach USD 80.3 Billion by 2025 at a CAGR 10.72%

Solar Panels Market Size to Reach USD 80.3 Billion by 2025 at a CAGR 10.72%
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