Adani Green Energy Ltd Subsidiary Signs Power Consumption and Investment Agreements for 20.8 MW Solar-Wind Hybrid Power Supply
Adani Green Energy Twenty Five B Limited, a wholly-owned stepdown subsidiary of Adani Green Energy Limited, has entered into a Power Consumption Agreement and Tripartite Agreement with Asahi India Glass Limited for the supply of 20.8 MW of solar-wind hybrid power. 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. Additionally, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited have signed an Investment Agreement with Asahi India Glass Limited. The Investment Agreement allows Adani Renewable Energy Holding Four Limited to appoint all the Directors on the Board of Adani Green Energy Twenty Five B Limited. Upon termination of the Power Consumption Agreement, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited will have the right to buyback and purchase the shares from Asahi India Glass Limited.
Key Highlights
- Adani Green Energy Twenty Five B Limited has entered into a Power Consumption Agreement and Tripartite Agreement with Asahi India Glass Limited for the supply of 20.8 MW of solar-wind hybrid power.
- Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited have signed an Investment Agreement with Asahi India Glass Limited.
- Adani Renewable Energy Holding Four Limited will have the right to appoint all the Directors on the Board of Adani Green Energy Twenty Five B Limited.
- Upon termination of the Power Consumption Agreement, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited will have the right to buyback and purchase the shares from Asahi India Glass Limited.
Price Impact