Reliance buys 79.4% stake in US-based solar energy software company

▤ Summary

Reliance Industries is set to acquire a 79.4% holding in US-based solar energy software developer SenseHawk for $32 million. The acquisition will be done via primary infusion and secondary purchase, and the deal should be completed by the end of this year. • The renewable energy sector is the future and Reliance Industries wants to produce around 100GW of solar power by the year 2030. It is described as an early-stage developer of software-based management tools to be used in the solar energy generation industry. SenseHawk helps companies use automation and streamline processes, thereby accelerating their solar projects.

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