Reliance Industries, Brookfield sign pact to boost renewable energy manufacturing in Australia
Reliance Industries and Brookfield Asset Management have entered into an initial agreement with the aim of exploring opportunities for manufacturing renewable energy and decarbonization equipment within Australia. The Memorandum of Understanding (MoU) seeks to accelerate as well as de-risk Australia's energy transition by enabling local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components, the Indian conglomerate said in a press statement.
According to the initial agreement, Brookfield will collaborate with Reliance to explore avenues for direct capital investment and the development of skills, knowledge, and expertise in the renewable energy sector of Australia. This collaboration aims to facilitate the nation's journey towards a net-zero future.
“At Reliance, we are firmly committed to the mission of creating a global clean energy ecosystem that is both beneficial to humanity and compatible with nature. Towards this end, Reliance is pursuing opportunities of investment in India and globally with great enthusiasm and passion," said Anant Ambani, director at Reliance New Energy.
«We are confident that Reliance and Brookfield will explore avenues in green energy in Australia, accelerating the nation’s transition to a Net Zero future and providing a fillip to the global green energy movement.”Reliance and Brookfield will assess the feasibility of establishing advanced operations in Australia for the production or assembly of equipment utilised in renewable energy projects, supplying equipment to various players in the market, including Origin Energy Markets. Reliance boasts strong expertise in solar panel technology and long duration battery storage, and it
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