Adani Green Energy to acquire SoftBank Energy India 5 GW Plant for USD 3.5 billion
AHMEDABAD, India, May 19, 2021-- Adani Green Energy Limited (AGEL) led by Gautam Adani has acquired 100% stakes in SB Energy India from Soft bank group (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction marks the largest acquisition in the renewable energy sector in India. The total deal valuation is approx USD 3.5 billion.
The target portfolio consists large scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW). The portfolio comprises of 1,400 MW operational solar power capacity and a further 3,554 MW is under construction. All projects have 25 year PPAs with sovereign rated counterparties such as Solar Energy Corporation of...