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19 May 2021
Adani Green Energy Limited (AGEL) has signed definitive agreements to acquire 100 per cent equity stake in SB Energy Holdings Limited (SB Energy India), a joint venture between Japan-based SoftBank Group Corp and Bharti Group, with 4,954 MW of renewable assets in India.
AGEL on Wednesday signed share purchase agreements for the acquisition of 100 per cent interest in SB Energy India from SBG (80 per cent) and Bharti Group (20 per cent). 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 Rs26,000 crore ($3.5 billion) and is the largest acquisition in the renewable energy sector in India.
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- Projects are contracted to sell power under 25 years PPAs with sovereign rated counterparties
- The transaction is for a fully completed enterprise valuation of approximately USD 3.5 billion (~Rs. 26,000 Cr.)
- This transformational acquisition will enable AGEL to reach renewable portfolio of 25 GW four years ahead of the target
AHMEDABAD, India, May 19, 2021 /PRNewswire/ Adani Green Energy Limited (AGEL), today signed share purchase agreements for the acquisition of 100% interest in SB Energy India from SBG (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction marks the largest acquisition in the renewable energy sector in India. The transaction values SB Energy India at an enterprise valuation of approximately USD 3.5 billion.
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Image Credits: PTI
Indian business tycoon and billionaire Gautam Adani has emerged as Asia s second-richest person surpassing Chinese billionaire Zong Shanshan, as per the Bloomberg Billionaires Index. The Bloomberg Billionaire Index indicates that Adani Group s net worth is $66.5 billion as compared to Zhong Shanshan’s $65.6 billion. In terms of most wealth owned by a person, the figures also imply that Gautam Adani trails behind his Indian competitor and Reliance Industries Limited Chairman Mukesh Ambani.
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- Projects are contracted to sell power under 25 years PPAs with sovereign rated counterparties
- The transaction is for a fully completed enterprise valuation of approximately USD 3.5 billion (~Rs. 26,000 Cr.)
- This transformational acquisition will enable AGEL to reach renewable portfolio of 25 GW four years ahead of the target
AHMEDABAD, India, May 19, 2021 /PRNewswire/ Adani Green Energy Limited (AGEL), today signed share purchase agreements for the acquisition of 100% interest in SB Energy India from SBG (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction marks the largest acquisition in the renewable energy sector in India. The transaction values SB Energy India at an enterprise valuation of approximately USD 3.5 billion.