Adani Green Energy To Supply 20.8 MW Solar-Wind Hybrid Power To Asahi India Glass

Adani Green Energy Limited has announced a new captive renewable energy partnership with Asahi India Glass Limited through a set of agreements signed on January 7, 2026. The company informed the Bombay Stock Exchange and the National Stock Exchange that its wholly owned step-down subsidiary, Adani Green Energy Twenty Five B Limited, has entered into a Power Consumption Agreement and a Tripartite Agreement with Asahi India Glass. Under these agreements, Adani Green Energy Twenty Five B Limited will act as the generator and supply 20.8 MW of solar-wind hybrid power to Asahi India Glass, which will use the energy as a captive consumer. The power will come from a combined facility located in Khavda, Gujarat, which includes a 25 MW solar plant and a 20.8 MW wind power unit.

Along with the power supply agreements, both sides have also signed an Investment Agreement. This agreement involves Adani Renewable Energy Holding Four Limited, the generator, and Asahi India Glass. As part of the captive rules, Asahi India Glass will take at least 26% of the proportionate equity shares related to the project in the generator company. Once the project is completed in its final phase, Adani Renewable Energy Holding Four Limited is expected to hold 98.78% equity with voting rights, while Asahi India Glass will hold 1.22%.

The agreement also explains how the project will be managed. Adani Renewable Energy Holding Four Limited will have the right to appoint all directors to the board of the generator company. It also states that if the Power Consumption Agreement is terminated at any stage, both the generator and Adani Renewable Energy Holding Four Limited have the right to buy back the shares of Asahi India Glass.

Adani Green Energy said that the deal is not a related party transaction because there is no connection between the two companies. The investment agreement will still need to get regulatory approvals. The agreement shows how more companies in India are choosing captive renewable energy to secure long-term and stable clean power for their operations.