New Delhi: Adani Green Energy Ltd (AGEL) today said it has completed the acquisition of SB Energy India for USD 3.5 billion or around Rs 26,000 crore, according to a PTI report. “AGEL, the world’s largest solar power developer, successfully completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal for which definitive agreements were signed on May 18, 2021,” a company statement said.
Adani Green Share Price at NSE, BSE
- Following the announcement, Adani Green Energy share price has gone up. Currently, At BSE, Adani Green Energy share price is Rs 1,168.75, up by 17.60 points or 1.53 per cent. At NSE India, Adani Green Energy Ltd share price is at Rs 1,168.40, up from 17.35 points or 1.51 per cent.
- You can check Adani Green Energy’s share price at BSE – https://www.bseindia.com/stock-share-price/adani-green-energy-ltd/adanigreen/541450/
and at NSE India – https://www.nseindia.com/get-quotes/equity?symbol=ADANIGREEN
Adani Green Energy – All You Need to Know
- Meanwhile, with this deal, SB Energy India is now a 100 per cent subsidiary of AGEL. Earlier, it was a 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group, as per a PTI report.
- The transaction pegs SB Energy India at an enterprise valuation of USD 3.5 billion (approximately Rs 26,000 crore) and marks the largest acquisition in the renewable energy sector in India, it stated, PTI reported.
- Just last week, Adani Group Chairman Gautam Adani had announced that the group would invest over USD 20 billion over the next 10 years in renewable energy generation, the PTI report says.
- This transaction takes AGEL closer to becoming the global leader in renewables, said Vneet S Jaain, MD and CEO, AGEL in the statement, according to a PTI report.
“The addition of these high-quality large utility-scale assets from SB Energy India demonstrates Adani Green Energy’s intent to accelerate India’s efforts to transition towards a carbon neutral future. Our renewable energy foundations will enable an entire ecosystem of new industries that can be expected to catalyse job creation in multiple sectors,” he was quoted as saying by PTI’.
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