International Holding Company PJSC (IHC), located in Abu Dhabi, will invest around USD 2 billion (EUR 1.83 billion) as primary capital in three portfolio firms of India’s Adani Group, including its renewable energy platform.
IHC would invest INR 38.5 billion in Adani Green Energy Ltd or AGEL, INR 38.5 billion in Adani Transmission Ltd, or ATL, and INR 77 billion in Adani Enterprises Ltd, or AEL, according to each company’s announcement.
The funds will be utilized to expand each of the three firms, strengthen their balance sheets, and for general corporate purposes.
AGEL creates, constructs, owns, runs, and maintains utility-scale solar and wind energy installations. Its current renewable energy portfolio includes 20.4 GW of assets that are operational, under development, awarded, or purchased.
At the same time, ATL is group’s transmission and distribution business arm, with a total transmission network of 18,875 ckm, and AEL is the group’s incubator unit.
The deals are scheduled to be completed in a month, subject to gaining the necessary clearances.
This is a Corporate PR News Feed; researched and edited by Clean-Future Team
