India’s renewable energy agency, Solar Energy Corp, has offered oil-to-telecoms conglomerate Reliance Industries a 51% stake in a joint venture to supply renewable power to the latter’s refineries and manufacturing plants, two sources familiar with the matter told Reuters.
Under the proposal, Solar Energy Corp (SECI) will invite international bids for supply of renewable energy to Reliance Industries’ refineries and facilities in Gujarat, the sources said.
“The renewable energy supplier to Reliance Industries will by selected through a tariff-based competitive bidding. SECI has proposed to facilitate the project management for a fee,” one of the sources told Reuters on condition of anonymity since the proposal was at an early stage.
Reliance Industries and Solar Energy Corp did not respond to emails sent by Reuters.
Reuters