Adani Green Energy today successfully concluded the acquisition of SB Energy Holdings (SB Energy India) in an all-cash deal for which definitive agreements were inked on 18 May 2021.
With this deal, SB Energy India is now a 100%
subsidiary of AGEL. Prior, it was a 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group.
The transaction pegs SBEnergy India at an enterprise valuation of USD 3.5 Bn (~Rs. 26,000 crore) and marks the largest acquisition in the renewable energy segment in India. Just last week, Adani Group Chairman Gautam Adani had announced that the Group would invest over 20 Bn dollars across the next 10 years in renewable energy generation.
As per a report of May 2021, Gautam Adani, Chairman, Adani Group, stated, “This acquisition is another step towards the vision we stated in January 2020, wherein we laid out our plans to become the world’s largest solar player by 2025 and thereafter the world’s largest renewable company by 2030.''
