Adani Green Energy acquired SB Energy’s solar portfolio for $3.5 billion.
Adani Green Energy Limited, one of India’s leading renewable energy companies, has recently acquired SB Energy’s solar portfolio for $3.5 billion. The acquisition marks Adani Green Energy’s largest acquisition to date and solidifies its position as a leader in the Indian renewable energy sector. In this blog article, we will discuss the details of the acquisition and provide a summary of Adani Green Energy’s solar assets.
Details of the Acquisition
The acquisition of SB Energy’s solar portfolio includes a total capacity of 4,954 MW, comprising of 1,400 MW operational solar power capacity and 3,554 MW under construction. The acquisition also includes 1,400 MW of co-located solar-cum-storage capacity, making it one of the largest renewable energy deals in India.
Adani Green Energy will acquire the solar portfolio through its subsidiary Adani Solar Energy Four, which has signed definitive agreements with SB Energy, a joint venture between SoftBank Group Corp, Bharti Enterprises, and Foxconn Technology Group.
The acquisition is expected to be completed by the end of the 2021-22 financial year, subject to regulatory approvals.
Summary of Adani Green Energy’s Solar Assets
Adani Green Energy has a diverse portfolio of solar assets across India. The company has 24 operational solar projects with a total capacity of 3,460 MW. In addition to these, the company has 14 solar projects under construction, with a total capacity of 2,950 MW. The following table provides a summary of Adani Green Energy’s solar assets:
| Project Name | State | Capacity (MW) |
|---|---|---|
| Kamuthi Solar Power Project | Tamil Nadu | 648 |
| Punjab Solar Power Project | Punjab | 100 |
| Bitta Solar Power Project | Punjab | 100 |
| Dhamra Solar Power Project | Odisha | 50 |
| Jodhpur Solar Power Project | Rajasthan | 100 |
| Kutchh Solar Power Project | Gujarat | 100 |
| Mahoba Solar Power Project | Uttar Pradesh | 250 |
| Rewa Solar Power Project | Madhya Pradesh | 250 |
| Bhadla Solar Power Project | Rajasthan | 250 |
| Bikaner Solar Power Project | Rajasthan | 100 |
| Fatehgarh Solar Power Project | Uttar Pradesh | 50 |
| Kaithal Solar Power Project | Haryana | 50 |
| Kurnool Solar Power Project | Andhra Pradesh | 50 |
| Rajasthan Solar Power Project | Rajasthan | 50 |
| Andhra Pradesh Solar Power Project | Andhra Pradesh | 50 |
| Mundra Solar Power Project | Gujarat | 100 |
| Tumkur Solar Power Project | Karnataka | 20 |
| Pavagada Solar Power Project | Karnataka | 20 |
| Bhadla Solar Power Project (Phase III) | Rajasthan | 200 |
| Jaisalmer Solar Power Project | Rajasthan | 250 |
| Khera Solar Power Project | Uttar Pradesh | 100 |
| Tikri Solar Power Project | Haryana | 100 |
| Gurgaon Solar Power Project | Haryana | 50 |
| Jhansi Solar Power Project | Uttar Pradesh | 50 |
| Total | 3,460 |
Conclusion
Adani Green Energy’s acquisition of SB Energy’s solar portfolio is a significant step towards achieving India’s renewable energy goals. The acquisition will add nearly 5 GW of renewable energy capacity to Adani Green Energy’s portfolio and strengthen its position as a leader in the Indian renewable energy sector.
With a diverse portfolio of solar projects across India, Adani Green Energy is well-positioned to contribute to India’s energy transition and the country’s efforts to reduce carbon emissions. The company’s continued investment in renewable energy is