Adani Green to buy SB Energy for the US $ 3.5 billion, the biggest deal in the Indian renewable sector

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New Delhi: Adani Green Energy Limited (AGEL) of the Adani Group company announced on Wednesday that it will acquire India’s largest renewable energy, SB Energy. The Adani Group has done the deal for US $ 3.5 billion.

SB Energy India is a joint business between Japan-based SoftBank Group Corp and Bharti Group with 80% and 20% stake respectively.

The company said in a statement that the portfolio consists of 84% solar capacity, 9% wind-solar hybrid capacity and large scale utility assets with 7% wind capacity. The portfolio includes 1,400 MW of operational solar power capacity and another 3,554 MW is under construction.

The company said in an official release on Wednesday, “It has signed definitive agreements for 100% acquisition of SB Energy Holdings Limited (SB Energy India). SB Energy India Japan-based SoftBank Group Corporation (SBG) (80%) and Bharti Group (20%) and has 4,954 MW renewable assets in India.

The company said on Wednesday that the transaction is the largest acquisition in the renewable energy sector in India. According to the transaction, SB Energy India has an enterprise valuation of approximately US $ 3.5 billion. Gautam Adani, Chairman of Adani Group stated that “This acquisition is another step towards the vision we set in January 2020, wherein we have become the world’s largest solar company by 2025 and then the world’s largest renewable by 2030” Planned to be a company. There is no doubt that India has been one of the few nations that have accelerated its global commitment to climate change and intend to play its role to deliver on the promises made.’

He said that ‘The renewable energy platform we are building will lay the foundation for attracting many other global industries that are increasingly striving to reduce their carbon footprints (as well as adjacent platforms including hydrogen and storage platforms) Will lay the foundation for opening). We are on track to achieve our announced solar portfolio targets four years ahead of our deadline. The quality of the assets created by SoftBank and Bharti Group is excellent and I commend their efforts to support India’s move towards renewable energy. We are proud to carry forward his legacy.”


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