Reliance New Energy Solar, acquire 51% stake in Sterling & Wilson for Rs. 28 billion.
Reliance New Energy Solar, a subsidiary of Reliance Industries Limited, has recently announced its acquisition of a 51% stake in Solar Sterling & Wilson for Rs. 28 billion. The deal is expected to strengthen Reliance’s presence in the solar energy sector and enable the company to expand its renewable energy portfolio.
Solar Sterling & Wilson is a leading global solar EPC solutions provider and has a strong presence in key solar markets such as the Middle East, Africa, and Europe. The company has a robust track record of delivering large-scale solar projects and has a pipeline of projects worth over 10 GW.
The acquisition of a majority stake in Solar Sterling & Wilson will enable Reliance New Energy Solar to leverage the company’s expertise and experience in the solar energy sector. The deal will also help Reliance to accelerate the deployment of its renewable energy projects and achieve its target of achieving net-zero carbon emissions by 2035.
The key features of the deal are as follows:
- Reliance New Energy Solar will acquire a 51% stake in Solar Sterling & Wilson for Rs. 28 billion.
- Solar Sterling & Wilson is a leading global solar EPC solutions provider with a strong presence in key solar markets such as the Middle East, Africa, and Europe.
- The company has a robust track record of delivering large-scale solar projects and has a pipeline of projects worth over 10 GW.
- The acquisition will enable Reliance New Energy Solar to leverage the company’s expertise and experience in the solar energy sector.
- The deal will help Reliance to accelerate the deployment of its renewable energy projects and achieve its target of achieving net-zero carbon emissions by 2035.
The following table summarizes the key details of the deal:
| Particulars | Details |
|---|---|
| Target Company | Solar Sterling & Wilson |
| Acquirer | Reliance New Energy Solar |
| Stake Acquired | 51% |
| Consideration | Rs. 28 billion |
| Benefits to Reliance | Stronger presence in the solar energy sector, access to Solar Sterling & Wilson’s expertise and experience, acceleration of renewable energy projects, and achievement of net-zero carbon emissions target by 2035 |
In conclusion, the acquisition of a majority stake in Solar Sterling & Wilson by Reliance New Energy Solar is a strategic move that will help the company to strengthen its position in the renewable energy sector. The deal will enable Reliance to leverage Solar Sterling & Wilson’s expertise and experience in the solar energy sector and accelerate the deployment of its renewable energy projects. Overall, the acquisition is a step towards achieving Reliance’s goal of achieving net-zero carbon emissions by 2035 and contributing to the fight against climate change.