India's Reliance Industries looks to acquire Norwegian solar module maker REC

Reliance Industries Ltd (RIL) is looking to buy Norwegian solar module maker REC Group as part of the oil refiner’s 75,000 crore ($10 billion) push into clean energy, said two people aware of the development.

Chairman and managing director Mukesh Ambani had announced plans to set up the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar at the company’s annual general meeting last month. The complex will have an integrated solar photovoltaic (PV) module giga factory.

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