AGEL plans to buy majority stake in Japan’s SoftBank Group

Adani Green Energy Limited (AGEL) is reportedly in talks to buy Japan’s SoftBank Group’s majority 80 per cent stake in solar power producer SB Energy.

The talks follow the scrapping of SoftBank’s plan to sell the stake to Canada Pension Plan Investment Board (CPPIB) for an estimated $ 525 million. Bharti Enterprises Limited holds the remaining 20 per cent stake in SB Energy. SB Energy has a portfolio of 7.7 GW in India. The deal, if finalised, would help AGEL to reach its targetted generation capacity of 25 GW by 2025.

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