AGEL completes acquisition of 205 MW solar assets

Adani Green Energy Limited (AGEL) has completed the acquisition of 205 MW operating solar assets from Essel Green Energy Private Limited (EGEPL) and Essel Infraprojects Limited (EIL).

The assets are located in Punjab, Karnataka and Uttar Pradesh. All the assets have long-term power purchase agreements with various state electricity distribution companies. The portfolio is relatively young with an average remaining power purchase agreement life of nearly 21 years. The acquired assets will be held 100 per cent by Adani Renewable Energy Holding Ten Limited, a 100 per cent subsidiary of AGEL.

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