Reliance New Energy Solar to fund $29 mn in German firm Nexwafe

15 Oct 2021 CW Team

Reliance Industries (RIL) subsidiary Reliance New Energy Solar (RNESL) will invest $29 million in Germany’s NexWafe GmbH.

According to a statement given by the company on October 12, RNESL will be the vital lead investor for the German firm's 39 million euros Series C financing round.

The RIL firm has agreed with NexWafe, a firm that provides high-efficiency monocrystalline silicon wafers, to obtain 86,887 series C approved shares at 287.73 euros apiece. RNESL will also be declared 36,201 warrants which are exercisable for a sum of 1 euro each subject to fulfilment of agreed milestones, the firm said in an exchange filing.

NexWafe has a proprietary technology that can significantly lessen the price of manufacturing photovoltaic (PV) cells. The firm statement says that the technology can create solar photovoltaics, the lowest-cost form of renewable energy possible. The technology is to improve and build monocrystalline silicon wafers from inexpensive raw materials, going directly from the gas phase to finished wafers without the expensive and energy-intensive intermediate steps, as per the filing.

RIL plans to leverage NexWafe’s technology to install giga-scale wafer production plants in India, to help the domestic and the global markets. Reliance and NexWafe have entered into an India Strategic Partnership Agreement for joint development and commercialisation at a scale of high-efficiency, monocrystalline green solar wafers.

It is yet another move by RIL towards attaining the aim it has set for itself of producing 100GW of renewable energy (or 22% of the national goal) by 2030. Reliance is funding Rs 75,000 crore over the coming three years in renewable energy, comprising the installation of gigafactories in a 5,000-acre, integrated complex named Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat.

The complex is likely to have an integrated solar photovoltaic module plant for the generation of solar energy, an advanced energy storage battery factory for the storage of intermittent energy, an electrolyser factory to generate green hydrogen and a fuel-cell factory to transform hydrogen into motive and stationary power. It will also house infrastructure to produce ancillary material and tools for the gigafactories.

RIL is in the process of modifying its energy and materials businesses. At the firm's annual general meeting in June, the conglomerate’s chairman and managing director (CMD) Mukesh Ambani had explained their idea for their new energy business--first via hyper-integration, of scientific knowledge and technological innovation, following by building a business model that grabs the upward curve in demand for clean energy and downward curve in production cost, and third by working on increasing efficiency of assets and operations.

In the past few days, the firm has made purchases and partnerships that follow that vision.

Image Source

Reliance Industries (RIL) subsidiary Reliance New Energy Solar (RNESL) will invest $29 million in Germany’s NexWafe GmbH. According to a statement given by the company on October 12, RNESL will be the vital lead investor for the German firm's 39 million euros Series C financing round. The RIL firm has agreed with NexWafe, a firm that provides high-efficiency monocrystalline silicon wafers, to obtain 86,887 series C approved shares at 287.73 euros apiece. RNESL will also be declared 36,201 warrants which are exercisable for a sum of 1 euro each subject to fulfilment of agreed milestones, the firm said in an exchange filing. NexWafe has a proprietary technology that can significantly lessen the price of manufacturing photovoltaic (PV) cells. The firm statement says that the technology can create solar photovoltaics, the lowest-cost form of renewable energy possible. The technology is to improve and build monocrystalline silicon wafers from inexpensive raw materials, going directly from the gas phase to finished wafers without the expensive and energy-intensive intermediate steps, as per the filing. RIL plans to leverage NexWafe’s technology to install giga-scale wafer production plants in India, to help the domestic and the global markets. Reliance and NexWafe have entered into an India Strategic Partnership Agreement for joint development and commercialisation at a scale of high-efficiency, monocrystalline green solar wafers. It is yet another move by RIL towards attaining the aim it has set for itself of producing 100GW of renewable energy (or 22% of the national goal) by 2030. Reliance is funding Rs 75,000 crore over the coming three years in renewable energy, comprising the installation of gigafactories in a 5,000-acre, integrated complex named Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat. The complex is likely to have an integrated solar photovoltaic module plant for the generation of solar energy, an advanced energy storage battery factory for the storage of intermittent energy, an electrolyser factory to generate green hydrogen and a fuel-cell factory to transform hydrogen into motive and stationary power. It will also house infrastructure to produce ancillary material and tools for the gigafactories. RIL is in the process of modifying its energy and materials businesses. At the firm's annual general meeting in June, the conglomerate’s chairman and managing director (CMD) Mukesh Ambani had explained their idea for their new energy business--first via hyper-integration, of scientific knowledge and technological innovation, following by building a business model that grabs the upward curve in demand for clean energy and downward curve in production cost, and third by working on increasing efficiency of assets and operations. In the past few days, the firm has made purchases and partnerships that follow that vision. Image Source

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Infrastructure Transport

12 Mar 2026

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Infrastructure Urban

12 Mar 2026

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..