India’s Reliance New Energy will acquire all the assets of battery maker Lithium Werks for $61 million
A wholly-owned unit of Reliance Industries will buy the UK’s Faradion Ltd, a sodium-ion battery technology firm, for an enterprise value of 100 million pounds ($135 million) as billionaire Mukesh Ambani’s conglomerate accelerates its push into renewable energy.
Mukesh Ambani’s Reliance Industries (NSE:RELIANCE) acquired a Norwegian solar panel maker and an Indian builder of renewable projects in a bid by the oil-to-retail conglomerate to extend its dominance into alternative energy.
Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd.’s oil refining and chemicals business, people with knowledge of the matter said.
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
Occidental Petroleum has delivered a first shipment of carbon-neutral oil to Reliance Industries, in India.
Reliance Industries Ltd. toppled Exxon Mobil Corp. to become the world’s largest energy company after Saudi Aramco, as investors piled into the conglomerate lured by the Indian firm’s digital and retail forays.
Reliance Industries Ltd., run by Asia’s richest man Mukesh Ambani, has eclipsed BP Plc to break into an elite club of energy supermajors.
TechnipFMC has announced the award of a number of “significant” contracts for a deepwater project off the coast of India.