Adani Green Energy announces incorporation of two step down subsidiaries

Adani Green Energy on Friday announced the incorporation of two step down subsidiaries Adani Renewable Energy Fifty Six Ltd and Adani Renewable Energy Fifty Seven Ltd.

"Adani Renewable Energy Holding Nine Ltd, a wholly-owned subsidiary of the company, has incorporated two wholly-owned subsidiaries, namely, Adani Renewable Energy Fifty Six Ltd (ARE56L) and Adani Renewable Energy Fifty Seven Ltd (ARE57L) on December 14, 2023," a BSE filing stated.

Both step down subsidiaries have authorised as well as paid-up share capital of Rs 1 lakh each.

The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy, as per the filing.

Adani Renewable Energy Holding Nine Ltd, a wholly owned subsidiary of the company, holds 100 per cent share capital of ARE56L and ARE57L.

The new subsidiaries were registered with the Registrar of Companies, Gujarat, in Ahmedabad on December 14 and are yet to commence their business operations.