Competition Commission of India (CCI) has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar.
Adani Green Energy Twenty Three Ltd — a joint venture of Total Solar Singapore Pte Ltd and Adani Green Energy Ltd — will buy the assets from Adani Green Energy Ltd.
According to a combination notice filed, Adani Green Energy Twenty Three Ltd will acquire 100 per cent shareholding of ten target companies. Adani Green Energy Ten Ltd is the holding entity of the target companies.
Adani Green Energy Twenty-Three Ltd – a joint venture of Adani Green Energy and French energy major Total Solar Singapore – had recently completed the acquisition of Essel Groups 205 MW solar power project for an enterprise value of Rs 1,632 crore, the Gautam Adani-led firm said in a regulatory filing.
With the acquisition, the total operating renewable portfolio under the JV increases to 2,353 MW.
This is an Agency Feed; edited by Clean-Future Team