Adani Green Energy has entered into security purchase agreement for acquisition of 100% stake of Surajkiran Renewable Resources from Skypower Southeast Asia III Investments and Skypower Southeast Asia Holdings 2. The cost of acquisition is based on the enterprise value of Rs 317 crore, subject to closing adjustments.
Surajkiran has 50 MW operating solar project located in Junthula and Pansoor Village Nalgonda District in the state of Telangana, which was commissioned in October, 2017. It has a long-term Power Purchase Agreement (PPA) with Southern Power Distribution Company of Telangana at Rs 5.37/kWh.
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