English
Specials
    Upgrade

    Moneycontrol

    Budget 2023Budget 2023

    PARTNERS

    • Tata AIA Life Insurance
    • Hafele
    • Motilal Oswal
    Open for all to watch : Nifty Banker 3.0 | Watch Day 12 Session today by Ashok Devanampriya at 8pm.
    Budget 2023
    Budget 2023
    you are here: HomeNewsBusinessAnnouncements

    Adani Green subsidiary to acquire 50% stake in Essel Saurya Urja

    The acquisition is expected to be value accretive to shareholders and the transaction will be completed by 28 February, 2023

    Moneycontrol News
    January 18, 2023 / 11:55 AM IST
    Representative image

    Representative image

     
     
    live
    • bselive
    • nselive
    Volume
    Todays L/H
    More

    Adani Renewable Energy Holding Two Limited, a wholly owned subsidiary of Adani Green Energy, announced the acquisition of 50 percent stake in Essel Saurya Urja Company of Rajasthan Limited (ESUCRL) on January 18.

    The two companies entered into a binding term on January 17, as per an exchange filing. The remaining half of the company will be held by the Rajasthan government.

    ESUCRL houses a 750-MW solar park in Rajasthan. It had a turnover of Rs 9.87 crore in FY22.

    "The acquisition will expand Adani Green's footprint in the state of Rajasthan, where the company already owns and operates solar park in a joint venture with the Government of Rajasthan i.e. Adani Renewable Energy Park Rajasthan Limited," as per the exchange filing.