AGEL to acquire 100 per cent stake in SB Energy


Adani Green Energy Limited (AGEL) has signed share purchase agreements for 100 per cent acquisition of SB Energy Holdings Limited, which has a 4,954 MW portfolio of renewable energy projects in India. AGEL will be acquiring 80 per cent stake from the SoftBank Group Corporation and 20 per cent stake from Bharti Enterprises Limited. The transaction values SB Energy at about $3.5 billion. The target portfolio will comprise 1,400 MW of operational solar power capacity and 3,554 MW capacity of projects under construction. All the projects have 25-year power purchase agreements (PPAs) with the Solar Energy Corporation of India (SECI), NTPC Limited and NHPC Limited. This transaction is the largest acquisition in the renewable energy sector in India, after which the total renewables’ capacity of AGEL will reach 24.3 GW, with an operating renewables’ capacity of 4.9 GW.


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