Adani Green Energy Twenty Five B Ltd, a wholly owned step-down subsidiary of Adani Green Energy Ltd (AGEL), has entered into key agreements for the supply of 20.8 MW of solar-wind hybrid power to Asahi India Glass Ltd (AIS).
The company has signed a power consumption agreement (PCA) and a tripartite agreement with Asahi India Glass for the supply of renewable energy from its hybrid project located at Khavda, Gujarat. The power will be supplied from a 25 MW solar power plant unit and a 20.8 MW wind power plant unit, both located at Khavda, Gujarat.
Further, Adani Green Energy Twenty Five B and Adani Renewable Energy Holding Four Ltd (AREH4L) have executed an investment agreement with Asahi India Glass. AREH4L holds 100% of the equity share capital of Adani Green Energy Twenty Five B Ltd.
As per the provisions of the PCA, the applicable captive consumption rules, and the terms of the Investment Agreement, Asahi India Glass has agreed to subscribe to a minimum of 26% of the proportionate equity share capital related to the project of Adani Green Energy Twenty Five B Ltd (the renewable energy generator). The equity investment will be made in one or more tranches to meet the minimum captive shareholding requirement prescribed under the Captive Rules.
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