Adani arm to buy SB Energy’s India renewable energy biz for USD3.5 billion

Adani Green Energy Ltd (AGEL) on Wednesday said it has inked share purchase agreements with SoftBank Group (SBG) and Bharti Group for acquisition of 100 per cent stake in SB Energy India for $3.5 billion (approximately Rs 25,500 crore).
Adani arm to buy SB Energy’s India renewable energy biz for USD3.5 billion

New Delhi

The transaction marks the largest acquisition in the renewable energy sector in India.
AGEL signed agreements for the acquisition SB Energy India interest from SBG (80 per cent) and Bharti Group (20 pc), an AGEL statement said. SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated.
The target portfolio consists large scale utility assets with 84 per cent solar capacity (4,180 MW), 9 per cent wind-solar hybrid capacity (450 MW) and 7 per cent wind capacity (324 MW). With this acquisition, AGEL will achieve total renewable capacity of 24.3 GW and operating renewable capacity of 4.9 GW.

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