Reliance acquires 40% stake in Sterling and Wilson Solar

Reliance Industries Ltd. On Thursday announced that it has acquired a 40% stake in Sterling and Wilson Renewable Energy Ltd. Reliance Industries acquired this for a sum of Rs 2,845 crore. Sterling and Wilson Renewable Energy Ltd. belongs to the famous Shapoorji Pallonji Group. This acquisition is just another step in the reliance industry's journey to establish itself as a key player in the emerging clean energy sector. The green energy branch of the reliance group, Reliance New Energy Ltd. bought 1.96 crore stocks at a price of 275 apiece, with which it now owns 40% of the total company’s equity. Reliance aims to possess 100GW solar capacity by 2030 which is around 30% of the market share.