Reliance Industries (RIL) said on Wednesday it has established a subsidiary in Singapore called Rec Sustainable Energy Solutions and a Global Capacity Centre for integrating research and development (R&D) activities.
Lil said the centre will provide technical and procurement services to promote the recruitment of global talent and support the company’s new energy initiatives. The company will invest $100,000 in an initial subscription of 100,000 shares at a rate of $1 each.
RIL previously developed a first generation Bifair solar panel that produced heterozygosity (HJT) technology from its subsidiary REC Singapore, with cell efficiency of over 26%.
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In addition to its existing facilities, RIL has expanded its Advanced Solar Technology Lab in Singapore.
These developments are expected to help businesses reduce costs, optimize their supply chains, and improve the efficiency of their Gen 1 products.
At its final annual meeting, Mukesh Ambani revealed plans to commercialize disruptive technologies such as Perovskites and Back Contact HJT-IBC within the next two years.
