Adani Green to acquire Softbank-backed SB Energy in $3.5 billion deal
Adani Green to acquire Softbank-backed SB Energy in $3.5 billion deal
Renewable energy company Adani Green is all set to acquire Softbank-backed SB Energy. The deal will allow Adani Green to achieve its targeted renewable energy portfolio
of 25 gigawatts four years ahead of its expected timeline.
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UPDATED: May 19, 2021 10:29 IST
Adani Green Energy is all set to buy SoftBank Group Corp-backed SB Energy Holdings Limited in a cash deal. (Photo: Reuters/Representational image)
Indian renewable energy company Adani Green Energy Ltd said on Wednesday it would buy SoftBank Group Corp-backed SB Energy Holdings Limited for an enterprise value of $3.5 billion.
Updated Jan 02, 2021 | 13:52 IST
The company in their press release mentioned that the project strengthens the company s pioneer position for RE Hybrid projects in India. Representational Image | Photo Credit: IANS
Adani Renewable Energy Holding Eight Ltd, a wholly-owned subsidiary of Adani Green Energy Limited received LOA for 600 MW Wind-Solar Hybrid project from Solar Energy Corporation of India. The tariff for this project capacity has been fixed at Rs 2.41 per kilowatt-hour (kWh) for 25 years. The project is expected to be commissioned in a duration of 18 months from the date of signing the PPA (power purchase agreement), the company said.
With this project, total renewable energy project capacity of Adani Green now stands at 14,795 MW, of which 2,950 MW projects are operational and 11,845 MW projects are under implementation.