November 03, 2024 01:51 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Andhra Pradesh: Three-year-old girl raped and murdered by relative in Tirupati | Two terrorists killed in encounter with security forces in Kashmir's Anantnag | Bengal: 5-year-old girl raped and murdered in Alipurduar, accused beaten to death by angry villagers | Kashmir: Encounter breaks out between security forces and terrorists in Srinagar | Mumbai Police initiates extradition process to bring back Lawrence Bishnoi's brother Anmol Bishnoi from US
Reliance New Energy Solar Ltd to invest in USA's Ambri Inc
Ambri | RIL

Reliance New Energy Solar Ltd to invest in USA's Ambri Inc

| @indiablooms | 11 Aug 2021, 11:58 pm

Mumbai/IBNS:  Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), along with strategic investors Paulson & Co. Inc. and Bill Gates, and a few other investors, has announced an investment of $144 million in Ambri Inc, an energy storage company based in Massachusetts, USA.

RNESL will invest USD 50 million to acquire 42.3 million shares of preferred stock in Ambri.

RNESL and Ambri are also in discussions for an exclusive collaboration to set up a largescale battery manufacturing facility in India, which could add scale and further bring down costs for Reliance’s green energy initiative.

The investment will help the company commercialise and grow its long-duration energy storage systems business globally.

Based on patented technology and designed to last between 4-24 hours, Ambri’s longduration energy storage systems will break through the cost, longevity and safety barriers associated with lithium-ion batteries used in grid-scale stationary storage applications.

They will enable a crucial energy storage solution capable of supporting the increasing amounts of renewable energy being integrated into electric power grids.

Addressing shareholders in June this year, Reliance Industries chairman Mukesh Ambani had announced plans to build a Giga Factory in Jamnagar for the storage of intermittent energy, as part of the Dhirubhai Ambani Green Energy Giga Complex project.

“We are exploring new and advanced electro-chemical technologies that can be used for such large-scale grid batteries to store the energy that we will create. We will collaborate with global leaders in battery technology to achieve the highest reliability for round-the-clock power availability through a combination of generation, storage, and grid connectivity,” Ambani had announced.

Ambri can cater to projects that require energy storage systems from 10 MWh to over 2 GWh.

The company will manufacture calcium and antimony electrode-based cells and containerised systems that are more economical than lithium-ion batteries, capable of operating safely in any climatic condition without requiring supplemental air conditioning and meant to last for over 20 years with minimal degradation.

Ambri systems are particularly suited for high-usage applications, such as shifting energy from daytime solar generation to evening and morning peak load times.

The company is securing customers for large-scale projects with commercial operation in 2023 and beyond.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.