Adani Green Energy arm Adani Renewable Energy Holding Two Ltd is going to acquire 50% equity in Essel Saurya Urja Company of Rajasthan Ltd, from Essel Infraprojects at Rs 15 crore
Adani Renewable Energy Holding Two Ltd. (ESUCRL), entered into a binding terms sheet with Essel Infraprojects Ltd., Adani Green Energy stated in a regulatory filing.
Rajasthan Government will keep 50 percent of equity shares.
ESUCRL operates a solar park in Rajasthan with a capacity of 750 MW. In 2021-22, it had a turnover in excess of Rs 9.87 crore. The authorised capital of ESUCRL amounts to Rs 50 crore, while the paid-up capital is Rs 46.56 crore
ESUCRL creates solar parks that allow developers to set up renewable energy generation facilities.
AGEL will be expanding its presence in Rajasthan. AGEL, which already owns and operates Rajasthan’s solar park, is now part of a joint venture company with Rajasthan government. Adani Renewable Energy Park Rajasthan Ltd.
It is expected that the acquisition will add value to the company’s shareholders.
