India's Reliance unit to buy 20% stake in Caelux in renewable energy push
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/ba547aacb24fd1e54d1d204b8a32d691.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Indian oil-to-chemicals conglomerate Reliance Industries Ltd said its unit Reliance New Energy Ltd would buy a 20% stake for $12 million in solar technology developer Caelux Corp to produce more powerful and lower cost solar modules.
Pasadena, California-based Caelux is involved in research and development of perovskite-based solar technology that could see high efficiency solar modules produce 20% more energy over the 25-year lifetime of a solar project for a lower installed cost, Reliance said in an exchange filing on Friday.
The stake purchase is part of the billionaire Mukesh Ambani-led conglomerate's aggressive push into the renewable energy sector, with aims of producing 100 GW of solar energy by 2030.
Earlier this month, Reliance said it would acquire a 79.4% stake in California-based solar energy software developer SenseHawk for $32 million
![](https://portfolio.investmentguruindia.com/uploads/news/karnal22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Economy.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_Singapur.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/fdi22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_Bali.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_NewZeeland.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bank2.jpg)