Adani is taking a massive lead in India into green energy renewables.
But in Australia it is still seen as “the Indian coal company” because of its activities in Queensland – in this market the Adani reputation has taken a hit as a result.
The reality is Adani is a leader in green energy and just got a lot bigger!
Adani Green Energy Limited (AGEL), this week signed share purchase agreements for the acquisition of 100% interest in SB Energy India from SBG (80%) and Bharti Group (20%).
SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India.
Adani is super serious about renewables – the transaction marks the largest acquisition in the renewable energy sector in India. The transaction values SB Energy India at an enterprise valuation of approximately USD 3.5 billion.
The target portfolio consists large scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW).
With this acquisition, AGEL will achieve total renewable capacity of 24.3 GW (1) and operating renewable capacity of 4.9 GW.
You’ve got to hand it to Gautam Adani who has the vision to be the leader in sustainable energy transition globally and makes it one of the largest renewable energy platforms in the world.
Mr Adani created a vision in January 2020, wherein he laid out our plans to become the world’s largest solar player by 2025 and thereafter the world’s largest renewable company by 2030.