India: Reliance takes $736m green loan to fund REC Solar acquisition

India: Reliance takes $736m green loan to fund REC Solar acquisition

REUTERS/Shailesh Andrade

Reliance Industries Ltd (RIL) has signed a $736 million-equivalent green loan to fund its acquisition of Norwegian solar panel manufacturer REC Solar Holdings, marking the first such financing for the Indian conglomerate, the company said on Monday.