SoftBank sells renewable-energy unit in India
SoftBank Group Corp. is selling its Delhi-based renewable-energy unit to an Indian rival, a step that effectively pulls the plug on what was once the world’s most ambitious solar investor.
Adani Green Energy Ltd. said Wednesday it was buying SB Energy India in a deal that values the unit at $3.5 billion, an amount it said would be India’s largest renewable-energy transaction. The unit has nearly five gigawatts of renewable-power assets in India—mostly solar power—and is 80% owned by SoftBank, with the remaining stake held by Indian conglomerate and longtime SoftBank partner Bharti Group. Adani didn’t say how much it was paying.
