Adani Green Energy today successfully completed the acquisition of SB Energy Holdings (SB Energy India) in an all-cash deal for which definitive agreements were signed on 18 May 2021.
With this deal, SB Energy India is now a 100% subsidiary of AGEL. Earlier, it was a 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group.
The transaction pegs SBEnergy India at an enterprise valuation of USD 3.5 Bn (~Rs. 26,000 crore) and marks the largest acquisition in the enewable energy sector in India. Just last week, Adani Group Chairman Gautam Adani had announced that the Group would invest over 20 Bn dollars across the next 10 years in renewable energy generation.
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