The REC Group has already signed the takeover by the Mumbai-based subsidiary of Reliance Industries. Due to the group's financial strength and Reliance's clear commitment to solar energy, REC will grow to a capacity of more than five gigawatts within the next two to three years in Singapore, Europe and the USA, REC says.
Up to ten gigawatts of module capacity per year
Reliance also plans to use the solar technology at its gigafactory in Jamnagar, India. The factory will include silicon to module manufacturing initially with a capacity of four gigawatts. Later, the capacity is to grow to ten gigawatts per year. Economies of scale will enable the manufacturer to produce more cost-effectively.
See also: High-performance solar panels installed on farm in Holland
Background: Reliance's activities span hydrocarbon exploration and production, petroleum refining, and oil marketing, petrochemicals, retail and digital services. REC itself was originally founded in 1996 in Oslo, Norway. (mfo/nhp)
