Adani Green Energy (AGEL) has signed a share purchase agreement for acquisition of 100% stake in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global.
The project is located in Telangana and was commissioned in Oct 2017 and has a long-term Power Purchase Agreement (PPA) with the Southern Power Distribution Company of Telangana.
With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The closing of the transaction is subject to customary approvals and conditions.
Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.
