Adani Green Energy Ltd (AGEL) has completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal for which definitive agreements were signed on May 18, 2021.
With this deal, SB Energy India is now a 100 per cent subsidiary of AGEL. Earlier, it was a 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group.
The transaction pegs SB Energy India at an enterprise valuation of USD 3.5 Billion (Rs 26,000 crore) and marks the largest acquisition in the renewable energy sector in India.
Just last week, Adani Group Chairman Gautam Adani had announced that the Group would invest over $ 20 billion across the next 10 years in renewable energy generation.
“This transaction takes us closer to becoming the global leader in renewables,” said Vneet S. Jaain, MD & CEO, AGEL.