Reliance New Energy Ltd. to buy 20% stake in US Calc, invest $12 million

Reliance New EnergyLtd. to buy 20 stake in US Calc, invest$ 12 million 

Reliance New Energy Limited Deal Reliance New Energy Limited( RNEL), a wholly possessed attachment of Mukesh Ambani’s Reliance diligence Limited, has blazoned an investment in Calux Corporation of America. Reliance New Energy will invest$ 12 million for a 20 percent stake in Calux, located in California, US. This is anticipated to strengthen the company in ‘ Advanced Solar Cell Technology ’. 

 

Both the companies signed the agreement

The deal will help next- generation solar technology inventor Calx gain a base in the US as well as in requests around the world. Both the companies have inked a Strategic Partnership Agreement for this. 

 

Reliance Industries Chairman Mukesh Ambani expressed happiness

opining on the investment, Mukesh Ambani, Chairman and Managing Director, Reliance diligenceLtd. said, “ The investment in Calx is in line with our strategy to produce a ‘ world class green energy product ’eco-system. We believe that Calux’s perovskite- grounded solar technology and crystalline solar modules, will help us reach the coming stage. We'll work with the Calux platoon to accelerate its product development and commercialization of its technology. ” 

 

What Scott Grebeel, CEO of Calux Corporation, said

Scott Grebeel, CEO, Calux Corporation, expressed happiness on joining Reliance as a crucial investor, saying, “ We'll continue to concentrate on making crystalline solar modules more effective and cost-effective and expanding our manufacturing capacity. The plans and products support the roadmap. ” 

What is the specialty of Calux – how will Reliance get help from this investment

In fact, Calux is known for its perovskite- grounded solar technology. The company manufactures high- effectiveness solar modules that can produce up to 20 percent more electricity. The cost of its solar design, which can induce electricity for 25 times, is also veritably low. Reliance is setting up a world- class, integrated photovoltaic Giga plant in Jamnagar, Gujarat. With this investment, Reliance will be suitable to take advantage of Calx’s products and manufacture ‘ more important ’ and lower cost solar modules. 

The deal between Calcux and Reliance expected to be completed by the end of September

Vinod Khosla of Khosla gambles said, “ As an early investor in Calux, we've been impressed by their technological advancements and will continue to work with them. ” It's anticipated to be completed by the end of the time.