May 20, 2021 3:01:05 am
Adani Green Energy Limited (AGEL) on Wednesday signed agreements to acquire SB Energy India from SoftBank Group of Japan and India’s Bharti Group.
The share purchase agreements for acquisition of 100 per cent interest in SB Energy India was signed with SoftBank (80 per cent) and Bharti Group (20 per cent), an official release from the Adani Group said. SB Energy India has a total renewable portfolio of 4,954 MW across four states.
The deal places SB Energy India’s enterprise value at approximately $3.5 billion. With this deal, AGEL will achieve total renewable capacity of 24.3 GW and operating renewable capacity of 4.9 GW.
Adani Group chairman Gautam Adani said, “The renewable energy platform we are building will lay foundation for attracting several other global industries that are increasingly looking to reduce their carbon footprint.”
Masayoshi Son, representative director, corporate officer, chairman and CEO of SoftBank Group Corp, said, “We established SB Energy India in 2015 with the goal of creating a market-leading clean energy company to help fuel India’s growth with clean and renewable sources of energy.”
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