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Business deals

India's Reliance buys REC Solar for $771m from Chinese owner

Conglomerate plans to invest $10.1bn in clean energy over three years

A REC solar panel manufacturing plant employee makes a final inspection on panels.    © Reuters

NEW DELHI (Reuters) -- India's Reliance Industries on Sunday announced acquisition of REC Solar Holdings for an enterprise value of $771 million from China National Bluestar (Group) as it seeks to become net carbon zero by 2035.

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