CURRENT AFFAIRS

2021

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Reliance Industries Limited (RIL) has acquired what percent of stake in the Chinese-owned REC Group, through its subsidiary Reliance New Energy Solar Ltd (RNESL)?

A	70%
B	80%
C	100%
D	60%

Explanation:

Detailed explanation-1: -Coming soon to India: A new Solar Giga Factory The REC Alpha Pure-R goes into production in August 2022 at REC’s new production lines in Singapore, where REC is doubling its Alpha HJT product line capacity from 600 MW to 1.2 GW.

Detailed explanation-2: -Reliance Industries chairman Mukesh Ambani said that the acquisition will help the conglomerate in driving down costs, enhancing productivity, and improving on-time performance to deliver low levelised cost of electricity (LCoE) for solar projects globally.

Detailed explanation-3: -While REC Group is headquartered in Norway, it is owned by China National Chemical Corporation (ChemChina), which has a 79.5 percent share in China National Bluestar (Group) Co. Bluestar had acquired REC Solar in 2014 for $640 million.

There is 1 question to complete.