Adani Green Energy signed an agreement to acquire 205 MW Solar Assets

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Adani Green Energy Limited (AGEL), has signed a securities purchase agreement for acquisition of 205 MW operating solar assets of Essel Green Energy Private Limited (EGEPL) and Essel Infraprojects Limited (EIL). The assets are located in Punjab, Karnataka and Uttar Pradesh. All the assets have long term Power Purchase Agreements (PPAs) with various state electricity distribution companies. The portfolio is relatively young with average remaining PPA life of approximately 22 years.

The closing of the transaction is subject to customary approvals and conditions. The acquisition of these assets is at an enterprise valuation of approximately INR 1,300 crore (US$18.13 million). The existing long-term funding will continue.

List of the country updates

Country updates

  • August 26, 2019

    IL&FS files proposal for sale fo 874 MW wind in India

    IL&FS has filed the proposal to complete the sale of its stake in the Wind Energy business (874 MW), held under IL&FS Wind Energy Limited (IWEL) to ORIX Corporation of Japan, with NCLT fo...

    Read more
  • August 19, 2019

    Uttar Pradesh approves ReNew Power's bid for 100 MW floating solar project in Rihand Dam

    The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved the bids of ReNew Power to develop two packages of the 150 MW floating solar projects in Rihand Dam, also known as Govind...

    Read more
  • August 12, 2019

    BHEL wins EPC contract for 25 MW floating solar PV project in India

    State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) has won an engineering, procurement and construction (EPC) contract worth INR100 million (US$14.57 million) from National Thermal...

    Read more
  • August 08, 2019

    India announces tender for 137 MW of solar projects

    The Maharashtra State Power Generation Company has announced that it has released a Notice Inviting Tenders (NIT), inviting bids from eligible parties for the deployment of 137 MW of solar power proje...

    Read more
  • July 31, 2019

    2GW of open access solar plants in India in development

    Avaada Energy, one of the leading Independent Power Producers (IPP) in India, has commissioned over 1.8 GW of renewable assets ( Solar and Wind ) and is in the process of implementing 2 GW of open acc...

    Read more

Share this update