ESUCRL develops solar parks to enable setting up renewable energy generation plants by developers
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Adani Green Energy Arm To Buy 50% Equity In Essel Saurya Urja For Rs 15 Cr
The remaining 50% of the equity shares will continue to be held by the government of Rajasthan
Topics
Adani Green Energy | Essel Infraprojects | Essel Group
Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore.
Adani Renewable Energy Holding Two Ltd (ESUCRL) has entered into a binding term sheet with Essel Infraprojects Ltd on January 17, 2023 to this effect, Adani Green Energy said in a regulatory filing.
The remaining 50 per cent of the equity shares will continue to be held by the government of Rajasthan.
ESUCRL owns and operates a solar park with 750 MW capacity in Rajasthan. It had a turnover of Rs 9.87 crore in 2021-22. The authorised capital of ESUCRL is Rs 50 crore while the paid up capital is Rs 46.56 crore.
ESUCRL develops solar parks to enable setting up renewable energy generation plants by developers.
The acquisition will expand AGEL's footprint in the state of Rajasthan, where the Adani Green Energy Ltd (AGEL) already owns and operates a solar park in a joint venture company with the Rajasthan government -- Adani Renewable Energy Park Rajasthan Ltd. It was incorporated on 27th May, 2015.
The acquisition is expected to be value accretive to the company's shareholders, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, January 18 2023. 16:07 IST
RECENT NEWS
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more