Adani Green Energy announces the acquisition of SB Energy and its 5 GW of mainly solar assets for $3.5 billion.
The Indian giant thus continues its strategy of evolution and now has a total renewable capacity of 24.3 GW.
The largest M&A operation in the Indian industry
Adani Green Energy Ltd (AGEL) announces the purchase of SB Energy Group.
The company acquires 5GW of renewable assets, including 84% solar, for USD 3.5 billion.
This is the largest M&A deal in the Indian RE sector.
With this transaction, AGEL reaches a total renewable capacity of 24.3 GW and an operating renewable capacity of 4.9 GW.
The company continues to make progress towards its capacity targets, particularly in solar power.
In fact, it is aiming to become the world’s biggest solar player in 4 years’ time, by 2025.
Adani Green: world leader in renewable energies in 2030?
Mr. Gautam Adani, Chairman of the Adani Group, said, “This is another step towards the vision we set out in January 2020, in which we outlined our plans to become the world’s largest solar player by 2025 and subsequently the world’s largest renewable energy company by 2030. India has undoubtedly been one of the few countries to accelerate its global commitment to climate change, and we intend to do our part to deliver on the promises made.”
This news once again demonstrates AGEL’s desire to be the main driving force behind India’s energy transition.
With its leadership objectives and corresponding actions, the company could even become one of the leading players in the global transition.
