Company Overview
- Adani Green Energy is a renewable energy company that develops, builds, operates, and maintains solar and wind farm projects.
- Founded in 1988 by Gautam Adani, AGEL is part of the Adani Group’s promise to provide a better, cleaner, and greener future for India.
- The company develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations.
- With over 87 locations in 11 states, AGEL has generated more than 4,373 million units of electricity and saved 4 million tonnes of equivalent CO2.
Acquisition Overview
- Adani Green Energy will acquire 5 GW of renewable power portfolio from SB Energy India for a fully-completed enterprise evaluation (EV) of $3.5 billion.
- The share purchase agreement was signed on May 19 for acquisition of 100 percent interest in SB Energy from SoftBank Group and Bharti Group, which held 80 percent and 20 percent stake, respectively.
- In recent times, this is the fourth successive deal struck in the solar segment by Adani Green Energy whose stock has surged by almost 13 percent in the last month – the previous deals included domestic assets of Sterling and Wilson and Toronto-based SkyPower Global.
- The deal is expected to enable Adani Green Energy to achieve its target renewable portfolio of 25 GW, four years ahead of the timeline, and takes the company’s present total renewable capacity to 24.3 GW and operating renewable capacity of 4.9 GW.