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Reliance New Energy Solar acquires 100% stake in Faradion Limited

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Reliance New Energy Solar acquires 100% stake in Faradion Limited

The Indian conglomerate stated on December 31 that Reliance New Energy Solar Limited (RNESL), the clean energy division of Reliance Industries, has signed a definitive agreement to acquire 100% of Faradion Limited at a price of 100 million pounds (over 10 billion rupees). .

“The company’s wholly-owned subsidiary, Reliance New Energy Solar Limited (RNESL), has reached an agreement with Faradion Limited (Faradion) and its shareholders to acquire 100% of Faradion’s equity in a secondary transaction. The total value is based on an enterprise value of £100 million, 9442 Ten thousand pounds…” RIL stated in the filing of the stock exchange.

According to regulatory documents, the RIL subsidiary will acquire an 88.92% stake in Faradion for a total consideration of 83.97 million (843 million Indian rupees) at the end of the transaction, which is expected to be completed in early January 2022. It added that the remaining 11.08% stake in Faradion will be acquired for a total consideration of up to 10.45 million pounds (10.4 billion Indian rupees) within 3 years after the transaction is completed.

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Reliance New Energy Solar also agreed to subscribe for new shares in Faradion for a total consideration of 31.59 million pounds (31.7 billion Indian rupees), of which 25 million pounds (2.5 billion Indian rupees) will be used as growth capital to accelerate commercial promotion and to repay debt and other expenses Balance.

The announcement is in line with billionaire Mukesh Ambani’s ambitious plan to invest 75,000 crore in the next three years to establish a new clean energy business, aiming to achieve RIL by 2035 to achieve net carbon And the promise. The plan consists of three parts-a core investment of 60,000 rupees in four gigabit factories, which will manufacture and fully integrate all key components of the business; another 15,000 crore investment for the establishment of a development value chain and cooperation Partnership and future technology. Reliance will use Faradion’s state-of-the-art technology in its proposed fully integrated energy storage gigabit plant as part of the Jamnagar India project in the Dhirubhai Ambani green energy gigabit complex.

“This will further consolidate and consolidate our ambition to create one of the most advanced and integrated new energy ecosystems, and put India at the forefront of leading battery technology. The sodium ion technology developed by Faradion provides the world’s leading energy storage and A battery solution that is safe, sustainable, provides high energy density and is cost-competitive. In addition, it also has a wide range of applications from mobility to grid-scale storage and backup power,” RIL Chairman Ambani Said in a statement.

Headquartered in Sheffield and Oxford, Faradion holds patents for sodium ion battery technology and has a competitive, strategic, broad and extensive intellectual property portfolio covering many aspects of sodium ion technology.

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Following Guneet Monga, Priyanka Chopra serves as executive producer for the Oscar-nominated short film Anuja:”Inspiring Move: Following Guneet Monga, Priyanka Chopra Serves as Executive Producer for the Oscar-Nominated Short Film Anuja: ‘Very Proud'”

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Following Guneet Monga, Priyanka Chopra serves as executive producer for the Oscar-nominated short film Anuja:”Inspiring Move: Following Guneet Monga, Priyanka Chopra Serves as Executive Producer for the Oscar-Nominated Short Film Anuja: ‘Very Proud'”

Priyanka Chopra is extremely happy as she has come on board as an executive producer for Academy Award-shortlisted film Anuja, also backed by Guneet Monga.
Global star Priyanka Chopra is extremely happy as she has come on board as an executive producer for the Oscar-shortlisted film Anuja. Variety shared this update.

Anuja centers on the nine-year-old title character, who works in a back-alley garment factory with her older sister Palak. The narrative follows the young protagonist as she faces a decision that will impact both her future and her family.

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On being associated with the film, Priyanka said in a statement, “This beautiful film shines a spotlight on a subject that affects millions of children around the world, who are faced with the impossible decision between a future they cannot yet see and the immediate realities of their present.”

She said, “Anuja is a poignant, thought-provoking piece that makes us reflect deeply on the power of choices and how they shape the course of our lives. I am immensely proud to be associated with such a phenomenal and impactful project.”

The film was produced in collaboration with the Salaam Baalak Trust (SBT), a non-profit founded by Mira Nair’s family supporting street and working children, alongside Shine Global.

known for Academy Award-winning films War/Dance (2007) and Inocente (2012) – and Krushan Naik Films. Mindy Kaling is one of the producers on the film. Oscar winner Guneet Monga Kapoor has also boarded Anuja as a producer.

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This could be Monga’s third nomination at the Oscars. Her earlier projects, The Elephant Whisperers and Period: End of Sentence, won Oscars, bringing glory to Indian cinema.

A Story Close to the Heart

Anuja is a poignant tale about resilience, identity, and empowerment, centered around a young girl navigating societal challenges in her quest for self-discovery. Directed by a rising filmmaker, the short film has struck a chord with audiences and critics alike, making waves at various film festivals before earning its nomination for the Academy Awards.

Priyanka Chopra’s Legacy as a Producer

With Anuja, Priyanka continues her mission to spotlight underrepresented voices and meaningful narratives. She shared her admiration for the cast and crew of the film, saying, “It’s a collaborative effort, and every person involved in Anuja has poured their heart into it. I’m honored to be part of this journey.”

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Following Guneet Monga’s Footsteps

Priyanka’s move comes after Guneet Monga made history with The Elephant Whisperers, which won the Oscar for Best Documentary Short. Guneet’s success set a precedent for Indian filmmakers and producers, proving that stories rooted in Indian culture and values could resonate with a global audience. Priyanka’s involvement in Anuja further solidifies the growing presence of Indian creators on the international stage.

Critical and Audience Acclaim

Since its debut, Anuja has garnered widespread acclaim for its emotional depth and nuanced performances. Critics have praised its ability to tackle complex themes with sensitivity and authenticity. The film has already won several awards at international film festivals, further boosting its chances at the Oscars.

A Beacon for Future Collaborations

Priyanka’s involvement in Anuja is more than just a milestone for her career—it’s a beacon for future collaborations between Indian and international filmmakers. By lending her voice and resources to projects like this, she is creating opportunities for Indian talent to shine on a global scale.

As the Oscars approach, anticipation for Anuja continues to build. Whether it takes home the coveted trophy or not, the film’s nomination is a testament to the power of storytelling and the importance of representation.

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#PriyankaChopra #GuneetMonga #Anuja #ExecutiveProducer #OscarNominated #ShortFilm #InspiringMove #WomenInFilm #EmpoweringWomen #FilmIndustry #ProudMoment

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