In Short : Following the establishment of a joint venture in Bhutan, GDL – Reliance Solar Pte Ltd (GRSPL), which increased trust in the company’s renewable energy strategy, Reliance Power’s shares jumped more than 17% in the last week.
Encouraging Strategic Growth
Situated in Gelephu Mindfulness City, the joint venture is a 50:50 cooperation with the state-owned firm of the Royal Government of Bhutan. The action promotes Reliance Power’s transition into solar power markets and fortifies its clean energy footprint, despite the modest equity (equal to 25%).
Impact and Significance of Clean Energy
By managing more than 3 GW of solar DC capacity and 3.5 GWh of battery storage, Reliance Power has become a leading integrated solar + battery business, and this JV furthers that development. It promotes India’s aspirations for sustainable power and is in line with worldwide clean energy trends.
About Reliance Power
As a member of the Reliance Group, Reliance Power works in the solar, thermal, hydro, and energy storage industries. The business keeps moving in the direction of green energy, growing its portfolio of renewables and increasing its strategic importance in India’s power revolution.
