Reliance to acquire a 40% stake in Sterling & Wilson from Shapoorji Pallonji for $378.5m.

Reliance, an Indian multinational conglomerate company, agreed to acquire a 40% stake in Sterling & Wilson, a global pure-play, end-to-end solar engineering, procurement and construction solutions provider, from Shapoorji Pallonji, an Indian conglomerate company, for $378.5m. "We welcome SWSL as a strategic partner towards building our New Energy platform. SWSL, with its engineering talent, deep domain knowledge, global presence, and experience of executing some of the most complex projects globally, will become an important part of our solar value chain. This will enable us to deliver our comprehensive, end-to-end ecosystem leading to cost-efficient green energy for Indian consumers," Mukesh Ambani, Reliance Chairman.