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Adani Green acquire SB Energy from Softbank and Bharti; firm assets valued at $3.5 bn

Adani Green Energy Ltd.(AGEL) stated on Wednesday, it is securing SB Energy India from Softbank of Japan while India’s Bharti Group to add on 4,954 MW in its renewable power portfolio. The deal is the biggest investment in India’s renewable power sector.

The transaction values SB Energy at a firm’s valuation of approximately $3.5 billion. The target portfolio comprises large-scale utility assets with 84 percent solar capacity (4,180 MW), 9 percent wind-solar hybrid capacity (450 MW) and 7 percent wind capacity (324 MW).

The portfolio consists of 1,400 MW operational solar power capacity and a further 3,554 MW that is yet to be completed. All projects have 25-year power purchase agreements with absolute rated counterparties such as Solar Energy Corporation of India Ltd. (SECI), NTPC Limited and NHPC Limited.  

The operating assets forming part of the portfolio are primarily solar park-based projects. AGEL will achieve a total renewable capacity of 24.3 GW and an operating renewable capacity of 4.9 GW by implementing this deal.  

We established SB Energy India in 2015 intending to create a market-leading clean energy company to help fuel India’s growth with clean and renewable sources of energy. We are immensely proud of all that we have accomplished stated Masayoshi Son, Representative Director, Chairman & CEO of SoftBank Group Corp.

“This acquisition is another step towards the vision we stated in January 2020, wherein we laid out our plans to become the world’s largest solar player by 2025 and thereafter the world’s largest renewable company by 2030. We are well on our way to achieve our stated solar portfolio targets four years before the deadline we set for ourselves,” stated Gautam Adani, chairman of Adani Group in a statement.  

“We established SB Energy India in 2015 intending to create a market-leading clean energy company to help fuel India’s growth with clean and renewable sources of energy. We are immensely proud of all that we have accomplished,” stated Masayoshi Son, Representative Director, Corporate Officer, Chairman & CEO of SoftBank Group Corp.

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