Reliance Industries nears closing of REC Group acquisition from ChemChina
Indian multinational conglomerate company Reliance Industries (RIL) is nearing closing the deal with China National Chemical Corporation (ChemChina) to acquire the Norwegian solar module manufacturer REC Group.
The deal is expected to value between US$1- US$1.2 billion with about US$600 million of payment sourced from debt financing.
REC Group has operational headquarters in Singapore and has produced over 40 million solar panels since it started its operation in 1996.
Country updates
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August 31, 2021
Bourbon Subsea Services completes installation of 3.6 MW TetraSpar floating wind demonstration project in Norway
Bourbon Subsea Services has completed the installation of the 3.6 MW TetraSpar Demonstrator Floating Wind Turbine Project at Metcentre Test site in Norway. The demo project is based on the...
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August 16, 2021
Deutsche Bahn signs PPA for Mageli hydropower plant
German railway company Deutsche Bahn is securing the transition to a completely green power supply. Starting in 2023, Statkraft's hydropower from Norway will make the traction current mix in Germany e...
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July 15, 2021
Everfuel and OKQ8 to cooperate on Swedish hydrogen station network
Everfuel Sweden AB, a fully owned subsidiary of Everfuel A/S and OKQ8 has entered into a cooperation agreement for joint development of the green hydrogen market in Sweden by establishing a network of...
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June 30, 2021
Infranode fund reaches final close, exceeds EUR1bn target
Nordic-based infrastructure manager Infranode has reached a final close on its second fund, Infranode II, with over EUR1.2 billion (US$1.4 billion) of capital commitments. The fund significantly excee...
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June 25, 2021
Aquila Fund increases its commitment in 400 MW The Rock wind project in Mosjoen
Aquila European Renewables Income Fund plc (AERIF) has increased its potential commitment in The Rock wind farm by up to EUR 35.6 million (US$42.5 million) in order to bridge the company's share of ex...
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