The Competition Commission of India (CCI) has approved the transfer of Adani Green Energy’s ten solar energy generation assets to its joint venture with Total Solar Singapore, a renewable energy arm of French oil and gas giant Total.
The assets proposed to be acquired by the Adani Green-Total joint venture include TN Urja, Essel Urja, PN Renewable Energy, PN Clean Energy, KN Indi Vijaypura Solar Energy, KN Bijapura Solar Energy, KN Muddebihal Solar Energy, KN Sindagi Solar Energy, Essel Bagalkot Solar Energy and Essel Gulbarga Solar Power.
Subsequent to the asset transfer, the Adani Green-Total joint venture will acquire 100% shareholding of the solar portfolio, with Total buying half the stake for US$ 510 million.
“The 2,148 MWac solar portfolio, currently wholly owned by Adani Green Energy, is spread across 11 states in India. All the projects benefit from fixed-tariff, long-term (nearly 25 years) power purchase agreements with national and regional electricity distributors,” as reported by pv magazine earlier.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.