Adani Green to acquire 75 MW of solar parks from Sterling & Wilson

• Adani Green Energy Ltd (BOM:541450), or AGEL, said today it has actually signed a deal to purchase 2 functional solar energy plants in the Indian state of Telangana with a total capability of 74.94 MW.

Adani Green will obtain the unique objective lorries (SPVs) holding the possessions from Sterling and Wilson Solar Ltd (BOM:542760) at an enterprise valuation of INR 4.46 billion (USD 61.4 m/EUR 51.9 m). The seller claimed separately it will certainly obtain INR 2.5 billion in internet proceeds from the purchase and utilize the entire total up to repay a portion of its outstanding car loans.

With this most current acquisition, which undergoes customary approvals and also problems, Adani Green will certainly grow its operating renewable energy capability to 3,470 MW and get to a total renewables profile of 15,240 MW. The two freshly acquired properties lie in Telangana's Medak District as well as have long-term power acquisition arrangements (PPAs) with the Southern Power Distribution Company of Telangana Limited.