On August 29, 2019, Adani Green Energy
said it has signed a securities purchase agreement for acquisition of 205 MW operating solar assets of Essel Green Energy (EGEPL) and Essel Infraprojects (EIL). The acquisition of these assets is at an enterprise valuation of approximately Rs 1,300 crore, it added.
The assets are located in Punjab, Karnataka and Uttar Pradesh. All the assets have long term Power Purchase Agreements (PPAs) with various state electricity distribution companies.
The management said the acquisition of 205 MW of operating solar assets strengthens Adani Green Energy’s position as one of India’s premier renewable power producers, with a total portfolio of around 5.5 GW, of which around 2.5 GW is operational, and the remaining will be operationalised over the next two years.