Adani Green has transferred 205 MW operating solar assets to its joint venture (JV) with French energy major Total at an enterprise valuation of Rs 16.32 billion.
Adani Green and Total had formed a 50:50 JV for 2,148 MW solar power assets in India, which was set up at an enterprise valuation of Rs 173.85 billion in April 2020. With the latest acquisition, the total operating renewable portfolio under the JV stands at 2,353 MW. Adani Green had earlier announced acquisition of these assets from Essel Group on October 1, 2020. The assets are located in Punjab, Karnataka, and Uttar Pradesh. All the assets have long-term power purchase agreements (PPAs) with various state discoms. The portfolio is relatively young with an average remaining PPA life of about 21 years