Adani Green to buy SB Energy India

Adani Green Energy Limited (AGEL) has signed share purchase agreements for the acquisition of 100% interest in SB Energy India from Softbank Group (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction values SB Energy India at an enterprise valuation of approximately US$3.5 billion.

The target portfolio consists of large-scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW), and 7% wind capacity (324 MW). 1,400 MW are operational solar power projects and a further 3,554 MW is under construction. All projects have 25-year PPAs with sovereign-rated counterparties such as Solar Energy Corporation of India Ltd. (SECI), NTPC Limited, and NHPC Limited.