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.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU