Adani Green Energy Ltd (AGEL), India’s largest and the world’s leading renewable energy developer, announced that the Board of Directors of AGEL have approved a preferential issuance of warrants to the Promoters of AGEL for a quantum of INR 9,350 crore (equivalent to USD 1,125 million) at a per share price of INR 1,480.75/share calculated…
Adani Green Energy Limited (AGEL) and TotalEnergies have entered into a binding agreement to create a new JV, equally owned by TotalEnergies and AGEL, with a 1,050 MW portfolio. This portfolio will comprise a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both…
Ambuja Cements Ltd (ACL), the cement and building material company of Adani Cement and part of the diversified Adani Group, announced the acquisition of Sanghi Industries Ltd (SIL) at an enterprise value of Rs 5,000 crore. ACL will acquire 56.74% shares of SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will…
The Adani Group, the fastest-growing diversified portfolio of infra, energy and utility businesses in India, announced it will invest Rs 57,575 Cr in the state of Odisha. The High-Level Clearance Authority (HLCA) of the Govt of Odisha, headed by Chief Minister Naveen Patnaik, approved the Adani Group’s proposal to set up two projects – a…
Adani and energy supermajor TotalEnergies of France have entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem. In this strategic alliance, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL). The new partnership, centered on green hydrogen, is expected to transform the…
The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd. Holcim, through its subsidiaries, holds 63.19% in Ambuja Cements and 54.53% in ACC (of which…
POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to USD 5 Billion. The non-binding MoU signed between POSCO and Adani intends to further collaborate at the…
Adani Green Energy Ltd (AGEL), a solar power developer and the renewable energy arm of the Adani Group, has signed an agreement with the Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. This is the world’s largest ever green power purchase agreement. “We are pleased to have signed the world’s…
Forbes announced its Top 100 richest people in India for the year 2021 in terms of individual net worth. As the world’s sixth largest economy reeled under huge losses because of the second wave of the pandemic, the combined wealth of the richest Indians rose to a whopping $ 775 billion which is $252 billion…
The Adani Group announced entering into a strategic collaboration with Italy-based Snam, Europe’s leading gas infrastructure company. The collaboration, an integral part of the virtual summit between Indian Prime Minister, Narendra Modi and Italian Prime Minister, Giuseppe Conte, would envisage exploration of the hydrogen value chain in India and global markets, as well as the…
Gautam Adani, Chairman, Adani Group, announced the addition of the Mumbai International Airport and the Navi Mumbai International Airport to its existing portfolio of 6 airports. “The Mumbai International Airport is absolutely world-class and I compliment the GVK Group for having built such an outstanding airport,” Gautam said.. “The addition of the Mumbai International Airport…
The latest ranking of global solar companies by Mercom Capital ranks the Adani Group as the #1 global solar power generation asset owner in terms of operating solar projects. Adani’s renewable energy portfolio exceeds the total capacity installed by the entire United States solar industry in 2019 and will displace over 1.4 billion tons of…
Adani Green Energy Limited announced that it has won a manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI). As a part of the agreement, AGEL will develop 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing…
Adani Green Energy Limited and Total Gas & Power Business Services SAS have entered into a binding arrangement for investment of about $510 million for acquisition of 50% stake and other instruments in a joint venture company, which will house 2,148 MWac operating solar projects presently 100% owned by AGEL. The rest 50% stake in…
Prime Minister Narendra Modi on Monday, met top industry leaders including Mukesh Ambani, Ratan Tata, and Gautum Adani, ahead of the Union Budget 2020-21. The Union Budget which will be presented in the parliament on February 1, 2020, will be extremely crucial in sending a positive message to revive business sentiment amidst an economic slowdown.…