Abstract
India’s Reliance Industries will acquire the Norwegian solar company REC for $771 million from China National Bluestar, a specialty chemical firm. REC makes solar-grade polysilicon, as well as solar cells and panels. Reliance will also take up to a 40% stake in India’s Sterling and Wilson Solar, which is building projects capable of producing more than 11 GW of electricity. Both acquisitions will help move Reliance toward its goal of establishing 100 GW of solar energy in India by the end of the decade.
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