InvestorQ : Can you tell me about the latest acquisition of SB Energy by Adani Green?
Rutuja Nigam made post

Can you tell me about the latest acquisition of SB Energy by Adani Green?

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2 months ago
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Adani Green Energy, the green and renewable business of the Adani group, has acquired SB Energy India for an overall consideration of $3.5 billion. This will be an all-cash deal and will be carved out of the $20 billion that the Adani Group has set aside for renewable energy initiatives over the next 10 years. Adani had charted out a comprehensive new energy plan after the aggressive moves made by Reliance O2C Ltd in their last AGM.

SB Energy was formerly a joint ventured owned 80% by Softbank of Japan and with the balance 20% owned by the Bharti group, which runs Airtel. Post the deal, SB Energy has become a wholly-owned 100% subsidiary of Adani Green Power. This marks one of the largest single inorganic deals till date in the entire renewable energy space in India and could be the template for more to come.

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