Reliance New Energy Solar Ltd invests in German solar wafer company NexWafe

Reliance Industries, through its unit Reliance New Energy Solar Ltd (RNESL), has invested in the German “green solar wafers” technology company NexWafe GmbH (NexWafe), and signed a pact with Danish company Stiesdal A/S for hydrogen electrolyser, as part of a strategy to expand its clean energy portfolio through the various partnerships.

Late on Tuesday, RIL said it had invested 25 million euros in a Series C financing round in NexWafe. The investment makes RIL a strategic lead investor in the company, which is developing and producing monocrystalline silicon wafers, also called green solar wafers, which are cost effective.

“Our investment in NexWafe signals an important step towards accelerating India’s green energy transition and positioning India as a global leader in photovoltaic manufacturing,” RIL chairman Mukesh Ambani said in a statement.

“We believe NexWafe’s innovative ultra-thin wafer will give solar manufacturers a significant advantage over existing photovoltaic technologies, helping consumers in India and globally realize the benefits of solar energy more quickly and more efficiently,” Ambani added.

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