SB Energy India owns 5 GW of renewable assets in four states of India: 1.7 in operation, 2.5 under construction and an additional 700 MW
Renewable Company Adani Green Energy (Agel) Acquisition completed SP Energy Holdings India, Thus expanding the portfolio of wind and solar projects in the Asian country at the end of the year. Through this agreement, SB Energy India is now a 100% subsidiary of AGEL.
Previously, SB Energy was a joint venture between SoftBank Group Corp (80%) based in Japan; And Bharti Group (20%). As a result, the transaction puts SB Energy India at a $ 3.5 billion institutional value and is one of the largest acquisitions in the renewable energy sector in India.
Recently, Gautam Adani, Chairman of Adani Group, announced that it will invest over $ 20 billion over the next 10 years to generate renewable energy.
In this regard, AGEL CEO Vneet S. Jaain said: “This transaction approaches us as a world leader in renewable energy. The addition of these high-quality large-scale assets from SB Energy India demonstrates Adani Green Energy’s intention to accelerate India’s efforts for carbon neutrality. Our renewable energy foundations will create employment in many sectors and drive the complete ecosystem of new industries.”.
Innovations play an important role #Adhani Green Energy To sustain the power of nature. The robots installed at the Kamuti power station help to clean the modules without using water. More power # Fixed Procedures by technology.# Renewable # Clean power pic.twitter.com/pCHhKLyTkm
– Adani Green Energy Limited. (@ Adani Green) October 6, 2021
Renewable portfolio in India
Currently, SB Energy India has 5 GW of renewable assets in four states of India. The portfolio includes 1,700 MW of operational renewable assets, 2,554 MW under construction and an additional 700 MW in operation.
In this sense, solar power represents 84% of the portfolio with 4,180 MW; Meanwhile, hybrid wind-solar power is 9%, 450 MW and wind 7%, 324 MW. Each is divided into 15 projects with an average capacity of 330 MW, making it one of the largest renewable portfolios in India. Many properties are built using solar park based projects and excellent management, construction, operation and maintenance standards.
On the other hand, AGEL’s operational portfolio reaches 5.4 GW and its general portfolio increases to 19.8 GW, which represents a fourfold growth. AGEL’s mix of 19.8 GW for the overall portfolio is further strengthened by the opposition at 87% sovereign rating. The company ensures strict compliance with the United Nations Sustainable Development Goals (ODS)
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