Billionaire Gautham Adani completes $ 3.5 billion acquisition of India’s soft bank renewable energy sector

Adani Green Energy SBS Energy, part of the Adani Group, which owns Gautham Adani, has signed an agreement to buy India for $ 3.5 billion.

Adani Group Company signed an agreement in May to acquire SB Energy in a cash deal. At the time, SB Energy India was a joint venture between Masaishi Son SoftBank, which owns 80% of the house, and Sunil Bharti Mittal’s Bharti Group, which owns the remaining 20%.

Adani Green Energy said in a press release that the acquisition will increase the capacity of 5 GW of renewable energy for a company with ambitious plans to become a world leader in renewable energy. The agreement is expected to increase the operating portfolio by 46% to 5.4 GW and the overall portfolio to 19.8 GW.

SB Energy India owns power vehicles in four states, including 1.7 GW of renewable energy, 2.5 GW of projects under construction and 700 MW of near-construction assets. Solar contains 84% ​​of the unit portfolio, wind-solar hybrid 9% and wind 7%.

According to Vinnet S. Jan, Managing Director and CEO of Adani Green Energy, India is keen to accelerate India’s efforts to move towards a carbon-neutral future. He added that the company’s “renewable energy infrastructure will enable the overall ecology of new industries, which is expected to encourage job creation in many sectors.”

India now plans to have about 450 GW of renewable energy by 2030. CRISIL Infrastructure Consultant Executive Director Vivk Sharma said renewable energy is one of the world’s strongest investment sectors. It is expected that there will be more activity in the green space in the future, especially as countries and large companies race to achieve global emission targets and reaffirm their commitment to global warming. There may also be reinforcements in the sector due to the number of players, and some will require exit options after the lockout period.

India’s two largest companies – Reliance Industries and Adani Group – are investing heavily in the sector. Last week alone, Gautham Adani announced his intention to invest $ 20 billion in green energy projects over the next 10 years. By 2025, about 75% of the group’s planned capital expenditure will be on green technologies.

In June this year, Mukesh Ambani, a wealthy Asian and trusted industry leader, made a big plan for the fossil fuels to lead to clean energy. A.D. As part of its plan to become a net carbon zero company by 2035, it plans to spend $ 10 billion to build four “gigabytes” that produce solar modules, hydrogen, fuel cells, and battery grids.


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