Ambani’s strategy for most advanced green energy manufacturing ecosystem
Reliance Industries Ltd (RIL) is investing US$12 million in a perovskite based solar technology for access to next leg of innovation in crystalline solar modules as part of the group’s green energy plans.
RIL’s Reliance New Energy Limited (RNEL) is taking 20% stake with US$12 million investment in Pasadena, California-headquartered Caelux Corp.
The investment will accelerate product and technology development including a new pilot line in the United States for commercialization of technology.
RIL CMD Mukesh Ambani said of the investment on 23 Sept 2022, “We believe Caelux’s proprietary perovskite based solar technology provides us with access to next leg of innovation in crystalline solar modules.
“We will work along with Caelux team to accelerate its product development and commercialization of its technology.
“The investment in Caelux aligns with our strategy to create the most advanced green energy manufacturing ecosystem, backed by world class talent and built on the pillars of technological innovation achieved through strategic partnerships.”
“Through the partnership with Reliance, we will accelerate our efforts to build out our manufacturing capabilities to produce products that make crystalline solar modules more efficient and cost effective,” said Scott Graybeal, CEO of Caelux Corporation.
“We look forward to demonstrating the future of solar power at a scale as we support Reliance’s global expansion plans and product roadmap.”
RNEL and Caelux have also entered into a strategic partnership agreement for technical collaboration and commercialization of Caelux’s technology.
Caelux is an industry leader with proprietary technology for high efficiency solar modules that can produce 20% more energy over the 25-year lifetime of a solar project at significantly lower installed cost.
Through this investment and collaboration, Reliance will be able to produce more powerful and lower cost solar modules leveraging Caelux’s products.
Reliance is setting up a global scale integrated photovoltaic giga factory at Jamnagar, Gujarat. fiinews.com
