Reliance Industries takes majority stake in US-based company for Rs 2.5 billion: Details

Reliance Industries Ltd (RIL), has signed definitive agreements to acquire a majority stake (79.4%) in SenseHawk Inc (SenseHawk) for a total transaction value of $32 million (Rs 2,55,48,96,000), including funding for future growth, commercial rollout of products, and R&D. The stake purchase is part of the company's aggressive push into the renewable energy sector, which aims to produce 100 GW of solar energy by 2030. "SenseHawk, along with RIL’s other investments in New Energy, will be synergistic and create unique solutions with higher value to customers," said the company in a statement

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