Adani Green publicizes acquisition of SB Energy’s India inexperienced portfolio by admin- Wednesday, May 19th, 2021 04:21:36 PM
Adani Green Energy Ltd (AGEL) has signed definitive agreements for a hundred% acquisition of SB Energy Holdings Ltd. SB Energy India is a joint assignment among Japan-primarily based SoftBank Group Corp. (“SBG”) (80%) and Bharti Group (20%) and homes 4,954 MW of renewable belongings in India
The portfolio incorporates excessive nice, massive scale software renewable belongings. All tasks are gotten smaller to promote electricity underneath 25 years Power Purchase Agreements (PPA) with sovereign rated counterparties.
The transaction is for a fully completed company valuation of approximately USD 3.5 billion (Rs. 26,000 crore)
This transformational acquisition will enable AGEL to achieve its target renewable portfolio of 25 GW 4 years in advance of the goal timeline.