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Tuesday, October 26, 2021

RIL invests in German company Nexwafe, will make silicon wafers for the Indian market

Reliance Industries has made a big investment in the German company Nexwafe, making a strategic deal for the Indian market. NexWafe is a company that manufactures high efficiency monocrystalline silicon wafers. These silicon wafers are very important for the production of semiconductors.

Reliance Industries (RIL) has said on October 12 that one of its units, Reliance New Energy Solar Limited (RNESL), has invested 25 million euros to buy new shares in Germany’s NexWafe GmbH. This investment is a part of the strategic agreement for the Indian market.

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In an exchange filing made in this regard, the company has said that RNESL has entered into an agreement with NexWafe. NexWafe manufactures high efficiency monocrystalline silicon wafers. Under this agreement, RNESL will acquire 86,887 Series C Preferred Shares of NexWafe at a price of 287.73 euros per share. In addition, 36,201 warrants will also be issued to RNESL, which can be converted into Euro 1 subject to the prescribed conditions.

Significantly, silicon wafer is a material used in making semiconductors. Nowadays semiconductors are used in all kinds of electronic devices.

In another exchange filing on Tuesday itself, RIL has said that its solar unit Reliance New Energy Solar Limited (RNESL) has partnered with Danish company Stiesdal A/S. Together, the two companies will make HydroGen Electrolyzers. Reliance New Energy Solar Limited (RNESL) said this in the information given to the exchange on Tuesday. Let us tell you that this Dennis company makes commercialized technology related to Climate Change Mitigation.

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Similarly, on October 10, Reliance New Energy Solar Limited also announced the acquisition of Norwegian based company REC Solar Holdings AS (REC Group).

Apart from this, RNESL also said on October 10 itself that it has entered into an agreement to buy 40% stake in Sterling & Wilson Solar Limited (SWSL). The company has done this stake for Rs 2845 crore. The company (RIL) wants to fulfill its ambitious plan of clean energy through such deals.

(Disclaimer: Network 18 Media & Investment Limited is owned by Independent Media Trust. Its beneficiary company is Reliance Industries.

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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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