Reliance completed the acquisition of REC Solar from China National Bluestar for $771m.

Reliance, an Indian multinational conglomerate company, completed the acquisition of REC Solar, an international pioneering solar energy company, from China National Bluestar, a specialty chemicals and materials company, for $771m. "I am immensely pleased with our acquisition of REC because it will help Reliance tap the unlimited and year-long power of Soorya Dev, the Sun God, that India is fortunate to be blessed with. It is in line with our strategy of investing in new and advanced technologies and operating capabilities aimed at achieving Reliance’s goal of enabling 100 GW clean and green energy before the end of this decade. This will constitute the largest contribution by a single company to Honourable Prime Minister Shri Narendra Modi’s target for India to produce 450 GW renewable energy by 2030. It will enable India to become a world leader in green energy transition to overcome the climate crisis," Mukesh Ambani, Reliance Chairman. On December 7, 2021, Reliance Industries has signed a $736m green loan to fund its acquisition.