Reliance New Energy Solar Ltd (RNESL), a completely owned subsidiary of Reliance Industries Ltd (RIL), has made its first acquisition as part of the group’s new energy objectives. In addition to Paulson and Co. Inc., Bill Gates, and a few other investors have announced a $144 million investment in Ambri Inc., a Massachusetts-based energy storage firm.
RNESL to purchase 42.3 million shares of Ambri’s preferred stock by investing $50 million. This investment will help the company commercialise. It will also grow its long duration solar systems business worldwide.
