Adani Green Energy to buy 74.94 MW solar projects of Sterling and Wilson
Adani Green Energy Ltd (AGEL) on Wednesday announced that it has signed a share purchase agreement for the acquisition of 100 per cent stake in two special purpose vehicles (SPV) holding 74.94 MW operating solar projects of Sterling & Wilson, a Shapoorji Pallonji group company.
The projects, commissioned in 2017, are located in Medak District of Telangana and have long-term Power Purchase Agreements (PPA) with the Southern Power Distribution Company of Telangana Limited.
The enterprise valuation of the target SPV is Rs 446 crore. With this acquisition, AGEL will increase its operating renewable capacity to 3,470 MW with a total renewable portfolio of 15,240 MW, Adani Green said in a statement.
