Reliance To Acquire Europe’s Largest Solar Panel Manufacturer REC

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India’s energy demand is extremely high as it is a developing nation. Moreover, it has such a large population. The idea of solar energy at 100% is a viable option for countries like Switzerland or New Zealand as they have less energy demand and a lesser population. Humans need to come together and continue working on increasing the designs and structures of the solar cells in ways to allow us to harness the sun’s energy more effectively. Like we’ve got all the right ideas now we just need to dig in a little more on our structural design. Costa Rica has 100% sustainable energy that lasts months. Even though it’s a small country, the ability to sustain 100% of the country’s energy needs should also be taken into account when determining the leaders in this field. It’s a shame solar power is so expensive when compared to coal and natural gas.

It’s cool technology but until it becomes competitive, governments shouldn’t be stealing from poor taxpayers to give billions in handouts to the rich owners of green power companies. End subsidies to all energy companies so we can have cheaper electricity. Nuclear power and solar power are two arms of India for nation-building to meet the energy demands of the developing country and growing economy. India should keep its options open for both solar power and nuclear power as the fossil fuels are depleting and the cost of fossil fuels is about to rise in near future. Few months before reliance industries has announced that it will set up four Giga factories in India. The chairman of the company, Mr. Mukesh Ambani has told that RIL is planning to set up four Giga factories.

Reliance To Acquire Europe's Largest Solar Panel Manufacturer REC

The derivation of the name Gigafactory comes from the word ‘Giga,’ the unit of measurement representing “billions.”. This new move of Mukesh Ambani in the solar energy sector will make India one of the leading producers of solar energy. Apart from that, reliance Gigafactory project will also contribute to the generation of a massive number of jobs. In the report, it has been stated that Mukesh Ambani will set up the 5000-acre manufacturing hub. The project is called as Dhirubhai Ambani Green Energy Giga complex and it will be set up in Jamnagar, Gujarat. The chairperson of the company had told about the project in the 44th annual general meeting which was held in June 2021. RIL has a plan to invest $10 billion in the establishment of four Giga Factories. Mukesh Ambani has announced a recent investment plan of $144 million.

Solar power should be sold as something that lessens the load on fossil fuels for grid power, rather than completely replacing it. The Framework of setting up a 1MW plant will become the baseline for calculating all the costs of setting up a Solar Power Plant in this geography. You will have to have separate headers for Operational and Capital Costs based on the Outcome and Purpose for which you wish to establish the power plant. So, for any professional consultation around Establishing MW scale Solar Power Plants, figure out the Objectives. Almost all solar cells are based on silicon, but the model he is describing is known as thin-film solar energy. And the N and P silicon he talked about isn’t just silicon. The N-type semiconductor is generally silicon mixed with boron, and the P-type is Silicon bonded with phosphorus.

Reliance Acquire Europe's Largest Solar Panel Manufacturer REC

And the channels that the electrons pass through are known commonly as a microchannel in an area known as the P-N junction. To put it into a simple model, think about juggling 2 baseballs, and 2 holes for baseballs (we understand juggling a whole is impossible but it’s the best we got). The objects will always be in perpetual motion when sunlight moves the electrons and that movement is what generates the electricity. Now, most of the country in the world depends on Hydroelectricity. The problem with hydroelectric power is that hydroelectric dams destroy the environment at the same time. With increasing average temperatures, evaporation from large bodies of water is surely a concern. Also, they choke up rivers, inhibiting their natural flow and threatening to create what can be likened to an impending global thrombosis.

In addition, large dams negatively impact natural river ecosystems – everything in nature is interconnected. Wave power and electromagnetic power are viable options it seems. Many big corporate Giants are looking forward to investing the solar energy because it has a viable future and RIL seems to be a leading player in this race. India is already one of the contending players in the renewable energy sector and upcoming plans of industrialists towards solar energy will help the country in the generation of clean energy. This will change the dependency of the country on the conventional way of generation of power and it will also help in the sustainable growth of the existing resources. In another move, reliance industries have stated that it is going to acquire the REC group. REC Group is the largest solar panel manufacturer in Europe.

Reliance Solar Panel Manufacturer REC Acquisition

Mukesh Ambani’s Reliance industries are in the discussion to acquire the REC group for $1-1.2 billion from Chem China (China National Chemical Corp). RIL (Reliance India Limited) has conferred that the company has a wide range of plans in the development and establishment of Green Energy in India. The company will utilize the latest technology and Global manufacturing efficiencies through the proliferation of the deal. The company’s chairman has also told that in coming years it has some big plans in the renewable energy sector. Furthermore, RIL is in discussion with several global leaders to raise $500-$600 to acquire REC and furnish the transaction. The company’s head persons have revealed this news through an interview with Economic Times. They have also referred that further transaction amounts will be generated through equity.

Talking about REC, it is the biggest Solar panel manufacturing company in the world and manufactures Silicon material. These silicone materials are used in Photovoltaic (PV) components and multi-crystalline wafers. Apart from that, REC is also known for manufacturing solar cells and modules. The deal of the acquisition is almost complete and the transaction is soon to happen. It has been reported that a formal announcement will be made next week regarding the acquisition of REC. It has also been reported that REC is in talks with various independent power producer assets for the further functioning of REC. REC produces 1.5GW of energy annually. Till now, this company has made more than 40 million solar panels which are contributing to the generation of 11GW of power for its reliable customers.

Indian Power Manufacturers

Some of the prominent customers of REC are IKEA, Audi, Tiger Beer, etc. Its manufacturing hub is in Scandinavia and Singapore. REC is one of the biggest vendors of solar panels in the world. The company REC started more than ten years ago in India as a prior supplier of power utilities. It used to supply its power utilities to Greenko as well as Eenadu Group. Solar farms are a good idea but that we need to think things through a lot more than we currently do. Some evidence suggests that putting dark solar panels on top of the light yellow colored sand of the Sahara desert would probably lead to less sunlight reflection and therefore contribute to climate change. We need to do a better job at anticipating the impacts of our ideas, remember, at first we thought plastic was going to solve deforestation and cigarettes were prescribed as a weight-loss method.

We must look for the negative aspects of it. India recently announced 20 Giga Watts solar energy expansion by 2020 from the current 3 Megawatts and 63000 MW nuclear power by 2032 from the current 6780 MW. This is a very ambitious program to meet the energy demands of the country. If you ask which is better, both have their advantages and disadvantages. Solar power, which requires more land and solar power panels to be installed. States like Rajasthan and Gujarat in India have huge barren lands and receives more sunlight throughout the year, where solar power plants can be established. India lacks solar power panels production which needs to be imported from other countries. We don’t understand if India had such a huge plan why didn’t it invest in establishing solar power  panels production companies.

Reliance REC Acquisition

Foreign countries get huge benefits if India imports solar power panels. India has abundant reserves of thorium which can be used in nuclear reactors. However, it is challenging to convert thorium to Uranium which needs a lot of conversion processes. India uses thorium-232 converted to Uranium-233 in its third stage nuclear energy program. Now India is in starting phase of the second stage nuclear energy program. India has a lion’s share of Thorium reserves in the world, its time to accelerate developing Thorium nuclear reactors, Molten Salt Reactors (SMR), and even more importantly manufacture mass-scale Small Module reactors (SMR), which are orders of magnitude cheaper, super faster to implement, and very safe. In this way, India can power itself for millennia and can also power the rest of the world.

Nowadays, Indian industrialists are facing a lot of backlashes from citizens of India. A lot of people have a tremendous grudge against capitalism and it is digestible. But these industrialists are contributing a lot to the development of the nation and their contribution to the development of the country and better economic growth can’t be ignored. Industrialists of India are giving tough competition to foreign companies. Still, some people call them crony capitalists. Adani, Ambani & TATA contribute to more than 12lac direct jobs in India. Reliance jio is a telecom company that has brought a revolution in the telecom sector and end the monopoly of several telecom companies in India.

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