Adani Green Energy

Adani Green Acquires Operating Solar Projects From Sterling & Wilson For Rs.446 Cr.

Adani Green Energy Limited (AGEL), one of the largest renewables companies in India, today announced that it has signed a share purchase agreement for the acquisition of 100% stake in two SPVs holding 75 MW operating solar projects of Sterling & Wilson Private Limited, a Shapoorji Pallonji group company.

Adani Green

The projects, commissioned in 2017, are located in Telangana and have long-term Power Purchase Agreements (PPA) with the Southern Power Distribution Company of Telangana.

The enterprise valuation of the two target SPVs is Rs. 446 Cr. With this acquisition, Adani Green Energy will increase its operating renewable capacity to 3,470 MW with a total renewable portfolio of 15,240 MW. The closing of the transaction is subject to customary conditions.

Adani Green Energy is on path to becoming the largest renewables company in the world and for that they are using both organic and inorganic growth opportunities. They have a vision to build a capacity of 25 GW by 2025.

This is a PRNewswire Feed; edited by Clean-Future Team