Adani Green Energy arm to acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan

Adani Renewable Energy Holding Two Limited, a wholly-owned subsidiary of Adani Green Energy Limited, has entered into a binding term sheet for acquisition of 50 per cent equity interest in Essel Saurya Urja Company of Rajasthan Limited (ESUCRL) from Essel Infraprojects Limited.

The acquisition is in cash consideration of Rs 150 million.  The remaining 50 per cent of the equity shares will continue to be held by the government of Rajasthan. ESUCRL owns and operates a solar park with 750 MW capacity in Rajasthan. The transaction is expected to be completed by February 28, 2023.