Reliance Industries (RIL) on Wednesday said it has incorporated a subsidiary, named REC Sustainable Energy Solutions, in Singapore to set up a global capability centre for consolidating research and development (R&D) activities.
RIL said the centre will facilitate the recruitment of global talent and provide technical and procurement services to support the company’s new energy initiatives. The company will invest an amount of $100,000 towards initial subscription of 100,000 shares at the rate of $1 each.
RIL earlier fully integrated and indigenised the heterojunction (HJT) technology from its subsidiary REC Singapore to develop first generation bifacial solar panels with cell efficiency exceeding 26%.
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In addition to its existing facilities, RIL has expanded the Advanced Solar Technology Lab in Singapore.
These developments are expected to help the company in cost reductions and supply chain optimisation, as well as efficiency improvements in Gen 1 products.
The company’s chairman and managing director (MD) Mukesh Ambani at its last annual general meeting also revealed plans to commercialise disruptive technologies such as perovskites and back contact HJT-IBC within the next two years.
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