Adani Green Energy acquires SkyPower’s 50MW solar project in Telangana
Adani Green Energy Ltd (AGEL) announced on Saturday that it has signed an agreement to purchase 100 per cent stake in Toronto-headquartered SkyPower Global’s 50MW solar power project in Telangana.
With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW, said the company in a statement.
Toronto-based SkyPower is planning to exit India where it has 350 MW of assets. Leading companies were in a race to acquire the 50MW project in Telangana. The project was commissioned in October 2017 and has a long-term Power Purchase Agreement (PPA) with the Southern Power Distribution Company of Telangana.
