Adani Green Energy in an announcement on Thursday said it has transferred its newly acquired Essel Group’s 205 megawatt (MW) solar assets to its TOTAL joint venture. The JV company has completed this transfer of the assets at an enterprise valuation of Rs 1,632 crore.
Adani Green and TOTAL SA had formed a 50:50 JV for 2,148 MW solar power assets in India, setup at an enterprise valuation of Rs 17,385 crore in April.
“The JV has today completed another acquisition as per JV agreement, by way of transfer of 205 MW of operating solar assets for an enterprise valuation of Rs 1,632 Cr. With the acquisition, the total operating renewable portfolio under the JV stands at 2,353 MW,” Adani Green said in its statement.
