Adani Green to buy 5GW renewable assets from SB Energy in Rs 25.5K crore deal
CHENNAI: Adani Green Energy, the renewable power unit of the Adani group, said on Wednesday that it is buying 100 per cent of renewable energy major SB Energy in a deal that values the company at $3.5 billion, or around Rs 25,500 crore.
SB Energy is owned jointly by Japanese investment giant Softbank and India’s Bharti Group. Softbank owns an 80 per cent stake and Bharti the rest. The takeover of SB Energy will make Adani Green Energy the world’s largest solar energy firm and is the largest such deal in the Indian renewable segment so far. Along with SB Energy’s assets, Adani Green will have a portfolio of 24.3 gigawatts.
