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RIL & Brookfield Asset Management signed MoU

Published on August 03, 2023
Current Context: RIL and Brookfield Asset Management have signed an MoU to manufacture renewable energy and decarbonization equipment in Australia.
RIL & Brookfield Asset Management signed MoU
  • The MoU aims to both accelerate and de-risk Australia’s energy transition by enabling it to locally produce clean energy equipment such as PV modules, long duration battery storage and components for wind energy.
  • The MoU also intends to support Brookfield’s plan to invest between A$20 billion and A$30 billion over the next ten years to develop up to 14 GW of new, large-scale generation and storage capacity in Australia.
  • The MoU with RIL is one of the key initiatives being undertaken by Brookfield to bring global manufacturing technology and expertise to Australia..
  • This is a significant development for both RIL and Brookfield, as well as for Australia’s renewable energy sector. RIL has strong expertise in solar panel technology and long duration battery storage technology.

Question:

Q.1 What is the main objective of the MoU between RIL and Brookfield?
a. To manufacture renewable energy and decarbonization equipment in Australia
b. To invest in renewable energy projects in India
c. To develop a new solar panel technology
d. To create a joint venture for energy storage solutions
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