Adani Green Energy signs agreement to acquire solar assets of 205 MW
01 Oct 2019
Adani Green Energy (AGEL) has signed a securities purchase agreement for acquisition of 205 MW of operating solar assets of Essel Green Energy (EGEPL) and Essel Infraprojects (EIL).
All the assets have long-term power purchase agreements (PPAs) with various state electricity distribution companies and are located in Punjab, Karnataka and Uttar Pradesh. The portfolio is relatively young with an average remaining PPA life of about 22 years.
“This acquisition strengthens Adani Green Energy’s position as one of India’s premier renewable power producers, with a total portfolio of 5.5 GW, of which 2.5 GW is operational, and the remaining to be operationalised over the next two years,” said Jayant Parimal, CEO, Adani Green En