AGEL finalizes acquisition of SB Energy India

Adani Green Energy Ltd (AGEL) has completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal for which definitive agreements were signed on 18 May 2021. The transaction values SB Energy India at an enterprise valuation of approximately US$3.5 billion.

SB Energy India, a joint venture between Japan-based SoftBank Group Corp. (80%) and Bharti Group (20%), has a total renewable portfolio of 4,954 MW spread across four states in India. The 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).