#Saudi Aramco eyes investment in Reliance Industries' clean energy unit | ZAWYA MENA Edition

Saudi Aramco eyes investment in Reliance Industries' clean energy unit | ZAWYA MENA Edition

Saudi Aramco, the world's biggest oil company, is looking to invest in the clean energy unit of India's Reliance Industries Ltd., news website Mint reported, citing people in the know.

This comes weeks after both firms announced the scrapping of a $15-billion investment in Reliance's oil-to-chemicals (O2C) business.

Saudi Aramco and other investors have shown interest in investing in the Indian company’s clean energy unit, New Energy Solar Ltd., the report said.

"Reliance plans to get investors in its renewable energy business. While many investors are excited about this opportunity, Aramco is also said to be evaluating the same," sources told the publication.

In June, Reliance Industries chairman Mukesh Ambani pledged to invest $10 billion in clean energy projects over three years.