- Adani Green Energy is set to acquire 100 per cent ownership of a 50 MW solar plant in Telangana.
- This acquisition increases AGEL’s operating renewable capacity to 3,395 MW.
- AGEL has one of the world’s largest renewable energy portfolios with 14.9GW of projects under various stages of development.
Adani Green Energy has signed agreements with the Canadian company SkyPower Global to acquire a 100 per cent stake in a special purpose vehicle (SPV) which owns 50 MW operating solar plant in Telangana. The project which was commissioned in October 2017, has a long-term Power Purchase Agreement (PPA) with the Southern Power Distribution Company of Telangana. This acquisition increases AGEL’s operating renewable capacity to 3,395 MW.
According to Vneet S Jaain, MD and CEO, Adani Green Energy, increasing Adani’s portfolio through organic and inorganic growth opportunities is integral to the company’s vision of reaching a 25GW capacity by 2025, and becoming the global leader in renewable energy.
AGEL is a part of the Indian-based Adani Group and has one of the world’s largest renewable energy portfolios with 14.9GW of projects under various stages of development. AEGL is a major developer that builds, owns, operates and maintains utility-scale grid-connected solar and wind energy projects.