Adani Green Energy’s (AGEL) Wholly-owned Subsidiary -- Adani Renewable Energy Holding Two has entered into a binding term sheet on January 17, 2023 for acquisition of 50% equity interest in Essel Saurya Urja Company of Rajasthan (ESUCRL) from Seller. The cost of acquisition is Rs 15 crore and the transaction is expected to be completed by February 28, 2023.
The acquisition will expand AGEL’s footprint in the state of Rajasthan, where the AGEL already owns and operates solar park in a joint venture Company with Government of Rajasthan i.e. Adani Renewable Energy Park Rajasthan.
Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.
