The country's largest private company Reliance Industries is going to buy a California-based software company Sensho for $3.2 million, which is involved in solar-based management tra. Saho was founded in 2018 and is an early stage startup. Reliance has started talks to buy about 80 percent stake in it. SenseHock helps accelerate solar projects and streamline their processes and automation applications.
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doing. It provides a solar diesel platform for end-to-end solar asset life cycle management. According to Reliance Industries, Sensho's turnover in 2022 was 2,326,369 dollars, 1,165,926 dollars in 2021 and 1,292,63 dollars in 2020. Billionaire industrialist Mukesh Ambani's company Reliance Industries said that this deal will provide more to customers. It may develop unique and novel solutions for MERS. In this deal relayed party transaction.
does not come No promoter or group company of Reliance has any stake in Ronshaw. The transaction is subject to certain regulatory and customary closing conditions and is expected to be completed by the end of 2022. Mukesh Ambani's Reliance Industries is currently expanding rapidly and has been in the petrochemical, oil and gas business for decades. Recently, it has also made aggressive operations in the telecom and retail sectors. About 60 percent of Reliance.
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Much of the revenue comes from oil refining and petrochemicals. However, it now wants to reduce its reliance on oil-gas by diversifying into retail, telecommunications and technology.
Muksh Ambani is currently focusing more on green energy which also includes solar power. The company will invest 80 billion dollars in renewable energy in the next 10 to 15 years and will prepare its new refinery complex. Besides Reliance Group Dhirubhai.
Ambani Green Energy is setting up four giga factories at Ganga Complex.
Some solar panels, storage systems, electrolytes and fuel cells will be manufactured. These factories will be spread over 5,000 acres near Jamnagar. At the 15th annual general meeting of Reliance Industries last week, the company's chairman and managing director Mukesh Ambani announced the setting up of a new giga factory for Power Electronics.
03-Dec-2024