News Update

Adani Green To Buy SoftBank-Backed SB Energy

• ByStartupStory     |    May 19, 2021

Adani Green to buy SoftBank-backed SB Energy and Bharti Group for acquisition of 100 percent stake in SB Energy India for $ 3.5 billion. The transaction marks the largest acquisition in the renewable energy sector in India.

 

Adani Green to buy SoftBank-backed SB Energy, AGEL signed agreements for the acquisition of SB Energy India interest from SBG (80 percent) and Bharti Group (20 percent), an AGEL statement said.

According to the statement, 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 $ 3.5 billion, it stated.

Gautam Adani, Chairman, Adani Group, said regarding Adani Green to buy SoftBank-backed SB Energy : 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 renewable energy platform that we are building will lay the foundation for attracting several other global industries that are increasingly looking to reduce their carbon footprint.

 

 

 

 

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