Adani Green Energy Signs Agreement to Acquire 20 MW Operating Solar Asset for INR 133 cr

Adani Green Energy Limited (AGEL), signed a securities purchase agreement for acquisition of 20 MW operating solar project of Hindustan Powerprojects Pvt. Ltd on Friday, January 22, 2021. The project is located in Mahoba, Uttar Pradesh and was commissioned in October 2017. It has a long term Power Purchase Agreement (PPA) with UP state discom.

The closing of the transaction is subject to customary approvals and conditions. The acquisition is being done at an enterprise valuation of INR 133 crore. With this acquisition, AGEL will have operating renewable capacity of 3,145 MW and total renewable portfolio of 14,815 MW. It is noteworthy that AGEL's current operational capacity in Uttar Pradesh is 375 MW.

Shares of Adani Green Energy Ltd was last trading in BSE at Rs.1047.45 as compared to the previous close of Rs. 1048.05. The total number of shares traded during the day was 34338 in over 3514 trades.

The stock hit an intraday high of Rs. 1064.85 and intraday low of 1035. The net turnover during the day was Rs. 36009415.

Source : Equity Bulls

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