RIL, Brookfield tie up for renewable energy push in Oz

MUMBAI: Reliance Industries (RIL) and NYSE-listed Brookfield Asset Management have signed an agreement to explore opportunities to manufacture renewable energy and decarbonisation equipment in Australia. Under the terms of the agreement, Brookfield will work with RIL to explore avenues of direct capital investment and evaluate operations in Australia to make or assemble renewable energy equipment.

The agreement with RIL is one of the initiatives being undertaken by Brookfield to bring global manufacturing technology and expertise to Australia. According to a joint statement issued by the two companies, RIL has strong expertise in solar panel technology and long duration battery storage technology.