Adani vs Reliance: Stage is set for India’s Green Energy Revolution

Business Standard | Oct 13, 2021 at 2:00 AM
  • Just weeks after Mukesh Ambani announced a $10-billion investment by his Reliance Industries over the next three years in clean energy, Gautam Adani committed an outlay of $20 billion over the next decade for the sector.
  • And within weeks of that, Ambani’s Reliance Industries on October 10 announced two key deals on the same day — acquisition of Norway-based REC Solar Holdings for $771 million, and purchase of a 40% stake in Shapoorji Pallonji Group company Sterling & Wilson Solar for $370 million.
  • Reliance has announced setting up of four “giga factories” to make solar modules, hydrogen, fuel cells, and a battery grid to store electricity, at a cost of $8.1 billion.