Gautam Adani seals the biggest deal in India's renewable energy sector with SB Energy buyout for $3.5 billion. Adani Green Energy Ltd (AGEL) has acquired SB Energy India for USD 3.5 billion, the company spokesperson made a statement on Monday. It is the largest developer of solar power in the world now that SB Energy Holdings Ltd (SB Energy India) is its subsidiary with this deal.
At the JP Morgan India Investor Summit, Adani Group's chairman said that the USD 20 billion investment will be directed towards renewable energy generation, transmission, distribution and component manufacturing.
The added value of these high-quality large-scale assets from SB Energy India depicts Adani Green Energy's intent to accelerate India's efforts to transition toward becoming a green economy. Our initiatives for renewable energy will enable an entire system of new industries that can be expected to facilitate job creation in various sectors.
SB Energy India has 5 GW renewable assets spread across four states in India through its SPVs. The assets include 1,700 MW of operational renewable assets, 700 MW of assets in construction, and 2,554 MW of assets under construction
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