- Wednesday, April 02, 2025
Both companies look forward to set up advanced manufacturing operations in Australia by leveraging the Indian conglomerate’s experience in solar panel technology.
By: Shubham Ghosh
GLOBAL alternative asset manager Brookfield Asset Management has inked a memorandum of understanding (MoU) with India’s Reliance Industries to explore possibilities for manufacturing renewable energy and decarbonisation equipment in Australia, boosting its energy transition and sustainable development goals.
The island-nation’s efforts towards reducing its carbon footprint and achieving emissions-reduction targets have resulted in its energy transition gaining momentum.
The agreement will play a key role in accelerating and de-risking the transition by helping the local production of clean energy equipment, including long-duration battery storage and components of wind energy, The Australia Today reported.
It also said that under the MoU, Brookfield and Reliance Industries will join hands on direct capital investment and the development of skills, knowledge and expertise in Australia’s renewable energy sector.
Both companies look forward to set up advanced manufacturing operations in Australia by using the Indian conglomerate’s experience in solar panel technology and long-duration battery storage, the report added.
Anant Ambani, director, Reliance New Energy Limited, reiterated the company’s dedication to a global clean energy ecosystem and its interest in investment opportunities both in India and beyond.
“We are confident that Reliance and Brookfield will explore avenues in green energy in Australia, accelerating the nation’s transition to a Net Zero future and providing a fillip to the global green energy movement,” Ambani was quoted as saying by The Australia Today.
Luke Edwards, Brookfield Renewable Head of Australia, stressed on the importance of energy transition for the country and its local manufacturing industry.
