Adani Green surges 10% as it inks pact with Essel Infra to buy solar assets
Shares of Adani Green advanced as much as much 10.49 per cent to Rs 47.90 apiece on the BSE in the early morning deals on Friday, a day after the company announced it will acquire Essel Infra’s 205 megawatt (Mw) of solar assets for Rs 1,300 crore.
The assets are located in Punjab, Karnataka, and Uttar Pradesh. All these assets have long-term power purchase agreements with various state electricity distribution companies, the company said.
Adani Green called this its first acquisition of operating assets. “The acquisition of 205 Mw of operating solar assets strengthens Adani Green Energy’s position as one of India’s premier renewable power producers, with a total portfolio of 5.5 gigawatt (Gw), of which 2.5 Gw is operational, and the remaining is to be operationalised over the next two years,” said Jayant Parimal, chief executive officer for Adani Green Energy.
