Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (RIL), along with strategic investors Paulson & Company Inc. and Bill Gates and a few other investors, will invest $144 million in Ambari Inc. Energy storage company based in Massachusetts, US.
The investment will help the company commercialize and grow its long-term energy storage systems business on a global scale. RNESL will invest $50 million to acquire 42.3 million shares of preferred stock in Ambari.
Based on patented technology and designed to last between 4-24 hours, Ambari’s long-term energy storage system is the cost, longevity and safety constraints associated with lithium-ion batteries used in grid-scale stationary storage applications. Will break They will enable a critical energy storage solution capable of integrating increasing amounts of renewable energy into the electric power grid.
RNESL and Ambari are also in discussions for a special collaboration to set up a large-scale battery manufacturing facility in India, which could further reduce costs for Reliance’s green energy initiative.
Addressing shareholders in June this year, Reliance Industries Chairman Mukesh Ambani announced plans to build a giga factory in Jamnagar for intermittent energy storage, as part of the Dhirubhai Ambani Green Energy Giga Complex project Was.
“We are exploring new and advanced electro-chemical technologies that can be used to store energy for such large-scale off-grid batteries that we will build. We are looking for a combination of generation, storage and grid connectivity. Will collaborate with global leaders in battery technology to achieve the highest reliability for round-the-clock power availability,” Ambani had announced.
Ambari can meet projects that require energy storage systems ranging from 10 MW to 2 GW. The company will manufacture calcium and antimony electrode-based cells and containerized systems that are more economical than lithium-ion batteries, capable of operating safely in any climatic condition without the need for supplemental air conditioning and with minimal degradation. Together they are meant to last for more than 20 years.
Disclaimer:Network18 and TV18 – the companies that operate news18.com – are controlled by the Independent Media Trust, of which Reliance Industries is the sole beneficiary.
read all Breaking Newshandjob breaking news And coronavirus news Here
.