Mumbai-headquartered Reliance New Energy Solar acquired a 100 percent stake in Norway-based REC Solar Holdings AS from China National Bluestar (Group) Co Ltd. for $771 million.
Reliance New Energy Solar Ltd is a wholly-owned subsidiary of Reliance Industries Ltd., which aims to invest about $10.1 billion in clean energy over three years in a drive to become net carbon zero by 2035.
Founded in 1996, REC Solar Holdings AS is an international solar energy company that has its operational headquarters in Singapore and regional hubs in Europe, Australia, North America and Asia-Pacific. The company has three manufacturing facilities, one in Singapore for making PV cells and modules and two in Norway for making solar-grade polysilicon.
This acquisition presents Reliance with a global platform and the opportunity to expand and grow in key green energy markets globally, including in the U.S., Europe, Australia and elsewhere in Asia.
Last updated: December 26th, 2025
