India’s Adani Green Energy to buy SB Energy Holdings in $3.5 billion deal
Adani Green Energy Limited (AGEL), signed a share purchase agreement on Wednesday to acquire SB Energy India from its shareholders, Softbank Group and Bharti Enterprises, swooping at the opportunity within seven days of the faliure of previous negotiations with Canadian Pension Board (CPPIB) .
The transaction will make AGEL, already the largest listed renewable power company in the country by capacity, among the largest in the world. The company estimates that upon completion, its operating portfolio will bulk up to 10 GW (10,000 MW) by next year with another 15 GW under development.
