The West Asian-based sovereign investment fund, Qatar Investment Authority, acquired a 2.7 per cent stake in Adani Green Energy (AGEL) for Rs 3,920 crore via block deals on Monday. Banking sources state that the proceeds will be used by the group to reduce its debt and for other general corporate purposes.
The investment by the Qatar sovereign fund is a significant vote of confidence in the company, which boasts an operational capacity of 8,316 megawatt (Mw), making it the largest operating renewable energy portfolio in the country.
