Adani Green to accumulate SB Energy’s India portfolio

Adani Green Energy Limited (AGEL) on Wednesday signed agreements to accumulate SB Energy India from SoftBank Group of Japan and India’s Bharti Group.
The share buy agreements for acquisition of 100 per cent curiosity in SB Energy India was signed with SoftBank (80 per cent) and Bharti Group (20 per cent), an official launch from the Adani Group mentioned. SB Energy India has a complete renewable portfolio of 4,954 MW throughout 4 states.
The deal locations SB Energy India’s enterprise worth at roughly $3.5 billion. With this deal, AGEL will obtain whole renewable capability of 24.3 GW and working renewable capability of 4.9 GW.
Adani Group chairman Gautam Adani mentioned, “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, consultant director, company officer, chairman and CEO of SoftBank Group Corp, mentioned, “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.”