Reliance Industries Limited (RIL) makes a significant move by acquiring a 26% stake in Mahan Energen Ltd (MEL), a subsidiary of Adani Power Ltd. This collaboration marks the first-ever business deal between billionaires Mukesh Ambani and Gautam Adani. Under the agreement, RIL will receive 500 MW of electricity from MEL’s Madhya Pradesh-based power plants for captive use. The investment aligns with Electricity Rules, 2005, requiring a 26% stake in the captive unit for the user. Despite being perceived as rivals, Ambani and Adani have intersected in the clean energy sector, with both envisioning substantial investments in renewable energy infrastructure.