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2021-05-20 13:40:00

INDIA'S GREEN ENERGY $3.5 BLN

INDIA'S GREEN ENERGY $3.5 BLN

ENERDATA - 20 May 2021 - Adani Green Energy Ltd (AGEL) has signed definitive agreements for the acquisition of a 100% stake in SB Energy India from SoftBank Group (SBG, 80%) and Bharti Group (20%) for around INR 260bn (US$3.5bn). SB Energy India has a total renewable portfolio of 4,954 MW across four states in India, including 4,180 MW of solar capacity (of which 1,400 MW is operational), 450 MW of hybrid wind-solar capacity and 324 MW of wind capacity under construction. All the projects have secured 25-year power purchase agreements (PPAs) with the Solar Energy Corporation of India (SECI), NTPC and NHPC. With this acquisition, AGEL will raise its operational renewable capacity to 4.9 GW and will reach 24.3 GW of total capacity. The company aims to achieve 25 GW of renewable power generation by 2025.

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Tags: INDIA, ENERGY, CLIMATE