Adani Renewable Energy Holding Nine Limited (AREH9L), a wholly-owned subsidiary of the Adani Group, has signed a share subscription and shareholders agreement (SSSHA) to facilitate a captive power arrangement with Adani Renewables Energy Three Limited and DC development Noida Limited.
As part of this agreement, DC Development Noida Limited will acquire a 26 per cent equity stake in Adani Renewables Energy Three Limited to comply with minimum captive shareholding requirements under captive power rules.