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Ambani and Adani unite: Reliance acquires 26% stake in Adani’s power project

Thehindubusinessline

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Mukesh Ambani's Reliance Industries has acquired a 26% stake in Gautam Adani's Madhya Pradesh power project. The deal also includes a pact to use 500 MW of electricity from the plants for Reliance's captive use. While Ambani and Adani have been rivals in various sectors, they have both made significant investments in the clean energy sector. Adani aims to become the world's largest renewable energy producer by 2030, while Reliance is building four gigafactories for solar panels, batteries, green hydrogen, and fuel cells. The deal between the two businessmen is subject to regulatory approvals.

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Navneet Chaudhary
Navneet Chaudhary24||Finance Enthusiast||Accounts Executi....

Compliance with Regulations: The Electricity Rules of 2005 mandate that a captive user must own at least 26% of the shares in the captive power plant. This deal ensures RIL complies with this requirement.

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1
3 months ago
Kishan yadav
Kishan yadavLive the life you want....

The two big businessman of india knows that renewable energy is going to boom in future and that's the reason they are collaborating instead of their rivalrys and competitions

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1
3 months ago
Aditarya Agrawal
Aditarya Agrawal

The Collab we need

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2
3 months ago
Joel Joseph
Joel Joseph

This is going to interesting

Reply
2
3 months ago

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