Adani Green Energy gains as its arm to acquire 40 MW operational Solar Asset in Odisha
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Adani Green Energy is currently trading at Rs. 1143.85, up by 11.05 points or 0.98% from its previous closing of Rs. 1132.80 on the BSE.
The scrip opened at Rs. 1143.95 and has touched a high and low of Rs. 1144.85 and Rs. 1128.00 respectively. So far 931 shares were traded on the counter.
The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 1394.00 on 25-May-2021 and a 52 week low of Rs. 661.00 on 12-Oct-2020.
Last one week high and low of the scrip stood at Rs. 1159.00 and Rs. 1114.00 respectively. The current market cap of the company is Rs. 177171.54 crore.
The promoters holding in the company stood at 57.47%, while Institutions and Non-Institutions held 20.62% and 21.91% respectively.
Adani Green Energy’s wholly-owned subsidiary---Adani Renewable Energy (MH) (AREMHL) has signed definitive agreements with Essel Green Energy to acquire 100% economic value in an SPV that owns 40 MW operating solar project in Odisha. The project has a long-term Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for Rs 4.235 per unit, with remaining PPA life of about 22 years.
The closing of the transaction is subject to customary conditions. The acquisition of the project is at an enterprise valuation of Rs 219 crore. With this acquisition, AGEL will achieve a total renewable capacity of 19.8 GW. The total portfolio includes 5.4 GW operational assets, 5.7 GW assets under construction and 8.7 GW near construction assets.
Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.
