Adani Green Energy Incorporates SPV for RE Projects

Adani Green Energy Ltd. (AGEL) has established a new SPV, Adani Green Energy Sixty Nine Ltd. (AGE69L), to focus on renewable energy operations as a step-down subsidiary.

December 16, 2024. By Mrinmoy Dey

Adani Green Energy Ltd. (AGEL) has created a special purpose vehicle (SPV), Adani Green Energy Sixty Nine Ltd. (AGE69L), to operate in the renewable energy space. It is created as a step-down subsidiary of the parent company.

“Adani Renewable Energy Holding Nine Ltd., a wholly-owned subsidiary of the company, has incorporated a wholly-owned subsidiary, namely, Adani Green Energy Sixty Nine Ltd.,” informed Adani Green Energy in an exchange filing.

It further noted that the main objective of AGE69L is to generate, develop, transform, distribute, transmit, sale, and supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy.

Last week, Adani Green Energy commissioned a 250 MW solar power project at Badi Sid in the Jodhpur district of Rajasthan, raising its total operational renewable energy capacity to 11,434 MW.

At the Khavda renewable energy park, where 30 GW of projects are under development, AGEL has commissioned over 2 GW of solar capacity and 250 MW of wind capacity.

In September, AGEL received a Letter of Award (LOA) from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) to supply 5 GW of solar power for a 25-year duration.

In October 2024, Adani Green Energy Ltd. (AGEL) completed a 1,150 MWac joint venture with TotalEnergies, involving a USD 444 million investment. TotalEnergies acquired a 50 percent stake in AGEL's solar projects at the Khavda renewable energy plant in Gujarat.

Tags:

Business

Adani Green Energy

Adani Green Energy Sixty Nine

Adani Renewable Energy Holding Nine

Special purpose vehicles

Solar energy projects

Wind Energy Project

Khavda Solar Project

Khavda Renewable Energy Park

TotalEnergies