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SB Energy Comes Under Adani Green's Solar Portfolio For 3.5 billion USD

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29 May, 21 05:45
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-Arkaprava Das

SB Energy Comes Under Adani Green's Solar Portfolio For 3.5 billion USD

100% share acquisition deal of SB Energy is completed between Adani Green and its previous 80:20 stakeholding owners SoftBank and Bharti Group – An event of biggest business transfer in renewable energy sector of India, so far. It is confirmed by the chairman of Adani Green Energy Limited (AGEL), Mr Gautam Adani on last Wednesday, May 19, 2021, where he said that SB Energy assets are 'excellent' in term of his company's own growth plans to be the world's largest renewable company by 2025. In present financial year, AGEL's net renewable portfolio has 14,840 MW projects.3.5 billion USD worth SB Energy venture planned and started by Japan's SBG in 2015 along with Bharti Group of India, currently includes 84% solar capacity (4,180 MW), 9% wind-solar capacity (450 MW) and 7% wind capacity (324 MW) building its net energy capacity of 4,954 MW based in four states, Rajasthan, Andhra Pradesh, Karnataka and Madhya Pradesh. For this project, 1,400 MW capacity is already functional and the rest 3,554 MW is in the process of construction with 25-years PPA made with sovereign rated units, like, Solar Energy Corporation of India (SECI), NTPC and NHPC..In his statement, Masayoshi Son, SBG Representative Director mentioned that SB Energy Projects were initiated with a vision of generating top-level clean energy in India. SBG's current focus being on developing potential AI industries requiring for this business transfer, where both SBG and Bharti Group managements, on Wednesday, have expressed their optimism and expectation on AGEL to help enlarge it even more. Mr Gautam Adani has anticipated it himself in his words saying that SB Energy projects have a promising scope of job opportunities and foreign investments to incorporate AGEL's clean energy missions in India, their major futuristic endeavour in support of making a pollution-free non-toxic world.                                                                                                                                                                                                         

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