Adani Inexperienced Power arm Adani Renewable Power Holding Two Ltd will purchase 50 per cent fairness in Essel Saurya Urja Firm of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore.
Adani Renewable Power Holding Two Ltd (ESUCRL) has entered right into a binding time period sheet with Essel Infraprojects Ltd on January 17, 2023 to this impact, Adani Inexperienced Power mentioned in a regulatory submitting.
The remaining 50 % of the fairness shares will proceed to be held by the Rajasthan authorities.
ESUCRL owns and operates a photo voltaic park with 750 MW capability in Rajasthan. It has a turnover of Rs 9.87 crore in 2021-22. The licensed capital of ESUCRL is Rs 50 crore whereas the paid up capital is Rs 46.56 crore.
ESUCRL develops photo voltaic parks to create renewable vitality era vegetation for builders.
The acquisition will increase AGEL’s footprint within the state of Rajasthan, the place Adani Inexperienced Power Ltd (AGEL) already owns and operates a photo voltaic park in a three way partnership firm with the Rajasthan authorities — Adani Renewable Power Park Rajasthan Ltd. It was added on Could 27, 2015.
The acquisition is predicted to extend the worth of the corporate’s shareholders, it added.
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