Reliance to invest in NexWafe as strategic lead investor
The Hindu
The investment by Reliance will accelerate product and technology development for NexWafe, including the completion of the commercial development of NexWafe’s solar photovoltaic products on prototype lines in Freiburg.
Billionaire Mukesh Ambani’s Reliance Industries has invested EUR 25 million in German solar wafer maker, NexWafe GmbH, to use the firm’s technology to set up giga-scale wafer manufacturing facilities in India.
“NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its EUR 39 million ($45 million) Series C financing round with an investment of EUR 25 million ($29 million) in phase one,” the Indian firm said in a late Tuesday evening statement.
The investment by Reliance will accelerate product and technology development for NexWafe, including the completion of the commercial development of NexWafe’s solar photovoltaic products on prototype lines in Freiburg.
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