Brookfield Asset Management Signs MoU with Reliance Industries - News

Brookfield Asset Management and Reliance Industries have signed a Memorandum of Understanding (MoU) to explore renewable energy equipment manufacturing in Australia. The collaboration will focus on producing photovoltaic modules, long-duration battery storage, and wind energy components. 
It involves direct capital investment and skill development in Australia's renewable energy sector. Brookfield's expertise and Reliance's experience in solar panel technology will drive advanced manufacturing operations in the country, serving various market players, including Origin Energy Markets.
The partnership reinforces Brookfield's commitment to bringing global manufacturing technology to Australia. By establishing onshore sovereign manufacturing capability, it aims to create around 18,000 direct and indirect jobs, supporting regions heavily impacted by the transition. The initiative aligns with Australia's efforts to reduce its carbon footprint and achieve emissions reduction targets.
Luke Edwards, Managing Director, Renewable Power & Transition, Head of Australia, highlights the significance of this endeavor for accelerated emission reduction and job creation. Anant Ambani, Director, Reliance New Energy, expresses enthusiasm for investing in green energy, fostering Australia's transition to a Net Zero future, and contributing to the global green energy movement.