RNESL to invest in NexWafe as strategic lead investor

Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited has been announced as a strategic lead investor by Freiburg (Germany), NexWafe GmbH (NexWafe) in its $45 million Series C financing round.

There will be an investment of $29 million in the first phase. The investment by RNESL will accelerate product and technology development for NexWafe, including completion of the commercial development of solar photovoltaic (PV) products on prototype lines in Freiburg. The two companies have also entered into an India Strategic Partnership Agreement providing for joint technology development and commercialisation, at scale, of high- efficiency monocrystalline green solar wafers.

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