Mumbai-based Reliance Industries acquired a 79.4 percent stake in Saratoga, CA-based solar energy software developer SenseHawk for $32 million.
The acquisition is part of the conglomerate’s aggressive push into renewable energy to decarbonize its oil and chemical-dominated business. Reliance aims to produce 100 GW of solar energy by 2030.
SenseHawk develops tools for the solar industry to help companies streamline processes and use automation. The company, founded in 2018, generated $2.3 million in turnover in its financial year 2022.
