Billionaire Mukesh Ambani-led Reliance Industries is reportedly close to acquiring REC Group, the largest solar panel manufacturer in Europe, for $1-1.2 billion from China National Chemical Corp (ChemChina). It's in talks with global banks to secure $500-600 million to finance the deal, a report said. In June, Reliance Industries announced it'll invest ₹75,000 crore in green energy in three years.