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At 12:05 pm, Adani Green Energy shares were trading higher by 2.9 per cent on BSEAdani Green Energy has acquired SB Energy India for a fully-completed enterprise evaluation (EV) of $3.5 billion, making this the largest acquisition in the renewable energy sector in the country. SB Energy India is a joint venture between the Japan-based SoftBank Group Corp and Bharti Group, which held a stake of 80 per cent and 20 per cent respectively.”Adani Green (AGEL) has signed definitive agreements for 100 percent acquisition of SB Energy Holdings Limited. SB Energy India is a joint venture between Japan-based SoftBank Group Corp (80 percent) and Bharti Group (20 percent) and houses 4,954 MW of renewable assets in India,” Adani Green Energy said in a regulatory filing to the stock exchanges.Gautam Adani, chairman, Adani Group said, “This acquisition is another step towards the vision we stated in January 2020, wherein we laid out our plans to become the world’s largest solar player by 2025 and thereafter the world’s largest renewable company by 2030.””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),” Adani Green Energy added.With this acquisition, Adani Green Energy will achieve a total renewable capacity of 24.3 Gigawatt (GW) and an operating renewable capacity of 4.9 GW.The closing of the transaction is subject to customary approvals and conditions, Adani Renewables said.SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India.At 12:05 pm, Adani Green Energy shares were trading at Rs 1234.60, higher by 2.9 per cent, on the BSE.



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