Reliance Industries Limited’s (RIL) Rs 75,000 crore clean energy push picks up pace. Reliance New Energy Solar has acquired REC Solar Holdings for USD 771 million. Reliance will also be picking up a 40 percent stake in EPC player Sterling and Wilson Solar via a combination of primary investment, secondary share purchases and an open offer of Rs 2,850 crore. In an interview with CNBC-TV18, Harshvardhan Dole, vice president of institutional equities at IIFL, and Prakash Diwan of prakashdiwan.com shared their views.Also Read: RIL hits fresh record high on green push; shares up 2% after stake acquisition in REC Solar, Sterling & Wilson“These acquisitions will allow RIL to scale up the integrated solar manufacturing unit. By 2025-2026 they will be able to command 15-20 gigawatt of global market at a realization of maybe Rs 3 crore that can potentially give a topline, which is as high as Rs 75,000 crore and at the 20 percent margin, it can get you an EBITDA, which is perhaps 25 percent of their current EBITDA,” said Dole.“To that extent, these valuations will be significantly value accretive three-four years out. The question is how the execution is going to be and how the renewable market at that point of time pans out to be. So even if you give 15-20 times multiple at that point of time, in my opinion, these ventures can potentially create anywhere between USD 30 billion and 40 billion of enterprise value in FY24-FY25. These are quite a sizeable acquisition,” he added.Also Read: Reliance Industries' new energy arm buys REC Solar for $771 mn enterprise valueDiwan has always been very positive on RIL.“I have always been very positive right from Rs 2,300-2,400 levels. At some point, you would have to wait for the earnings to start reflecting or giving the direction in terms of where the stock would be headed in terms of the quantum, but I believe the direction is definably on its way up and it will probably see a lot of inflows beyond 13 percent that is currently the weightage in the marketcap,” he said.Also Read: Mukesh Ambani retains top spot in Forbes India Rich List 2021“Reliance has been very clearly indicating that it has been ready for some sort of a rerating, given the fact that post the last AGM we have not seen anybody talk about pricing in or pencilling in the potential earnings from the new energy or the green energy side. There were always issues about the timelines or the ability of the company to be able to do something so significantly large in a short span of time but what got the market excited was two things- one was that we have seen the upsurge in gas business that potentially could reflect in the earnings now and the retail expansion through the 7-Eleven acquisition. Those things were optically attractive. But what seems to have happened is that real news has come through on Saturday and Sunday and this definitely deserves a little bit of rerating because you now have two ongoing businesses that the company participates in. So, the organic route could have taken time but I think it is time that the inorganic route that the company has chosen to accelerate at Rs 75,000 crore investment is now going to start reflecting in the price,” Diwan explained.For the full interview, watch the accompanying video.Catch all live stock market action here.Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.