QIA acquires stake in AEML

Adani Transmission Limited (ATL), Adani Electricity Mumbai Limited (AEML) and a subsidiary of the Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML. The total investment by QIA will be about Rs 32 billion (or $450 million). As part of the transaction, ATL and QIA have also agreed that over 30 per cent of the electricity supplied by AEML will be sourced from solar and wind power plants by 2023.