Another success in Reliance's account, big contract signed with Australian company Brookfield

Global alternative asset manager Brookfield Asset Management has signed MoU with Reliance Industries.
The MoU aims to explore opportunities to manufacture renewable energy and decarbonization equipment in Australia, drive the country's energy transition and promote sustainable development.
This MoU between Brookfield and Reliance Industries will play a key role in accelerating this transition and mitigating risk by enabling local production of clean energy equipment, including photovoltaic (PV) modules, long-term battery storage, and wind power components.
Under the terms of the MoU, Brookfield, and Reliance Industries will collaborate on direct capital investment and the development of skills, knowledge, and expertise in the renewable energy sector within Australia.
These operations will focus on the production and assembly of equipment needed to build renewable energy projects, meeting the needs of all market players, including Origin Energy Markets.
The primary objective of the MoU is to ensure a continuous and adequate supply of clean energy equipment needed to develop up to 14 GW of new, large-scale generation and storage capacity in Australia.
Brookfield Asset Management is a leading global alternative asset manager with approximately $825 billion in assets under management across renewable energy, infrastructure, real estate, private equity, credit, and other sectors.
The company is focused on investing client capital for the long term, with an emphasis on real estate and essential service businesses that are the backbone of the global economy.
Reliance Industries Limited is India's largest private sector company with consolidated revenue of Rs 976,524 crore (US$118.8 billion) and net profit of Rs 74,088 crore (US$9.0 billion) for the year ended March 31, 2023.
The company's diverse activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail, and digital services.