Reliance buys 79.4% stake in Senshawk: Company will get help in new energy business, California-based software-based management tools developer.
Reliance Industries (RIL) has acquired 79.4% stake in California-based company Senshawk. This deal has been done for $ 32 million (about Rs 255 crore). It is likely to close by the end of the year after regulatory approvals. Established in 2018, Senshawk develops software-based management tools for the solar energy generation industry. The company helps with the planning and production of solar projects using automation.
New Anerjee invests Rs 75,000 crore
Reliance is setting up a fully integrated new energy manufacturing ecosystem in Jamnagar, for which it will invest Rs 75,000 crore. The company is building 4 new giga factories. Photovoltaic panel will be made in one. The second factory is for energy storage. The third factory is for green hydrogen and fuel cell systems. The company also announced a new Giga factory for power electronics at its AGM last week.
Cost will be reduced and productivity will increase
Mukesh Ambani, Chairman and MD, Reliance Industries, said, “In collaboration with Sensehawk, we will reduce costs, increase productivity and improve on-time performance to deliver the lowest LCoE (Leveled Cost of Electricity) for solar projects globally. . It is a very exciting technology platform and I am confident that with the support of RIL, Senshawk will grow multifold.
