Adani to acquire 50% in Essel Saurya Urja Company
POWER & RENEWABLE ENERGY

Adani to acquire 50% in Essel Saurya Urja Company

On Wednesday, the Adani Green Energy division announced that it would pay Essel Infraprojects $150 million for a 50% stake in Essel Saurya Urja Company of Rajasthan Ltd.

Adani Green Energy's renewable division, Adani Renewable Energy Holding Two Ltd, announced in a regulatory filing that it and Essel Infraprojects Ltd. signed into a legally binding term sheet on January 17, 2023.

A 150 million cash payment is required for the acquisition. The government of Rajasthan will still hold the remaining 50% of the equity shares.

According to the company's regulatory filing, "Adani Renewable Energy Holding Two Limited, a Wholly-owned Subsidiary of Adani Green Energy Limited, entered into a binding term sheet on January 17, 2023 for the acquisition of 50% equity interest in Essel Saurya Urja Company of Rajasthan Limited ("ESUCRI") from Seller.

In Rajasthan, ESUCRL is the owner and operator of a solar park with a 750 MW capacity. In 2021–2022, it generated a turnover of 198.7 million. ESUCRL has a paid-up capital of $7465.59 million compared to its allowed capital of $500 million.

To facilitate the installation of renewable energy producing plants by developers, ESUCRL constructs solar parks.

The purchase will increase AGEL's presence in Rajasthan, where it already owns and manages a solar park through a joint venture with the Rajasthani government called Adani Renewable Energy Park Rajasthan Ltd. It was founded on May 27, 2015.

According to the statement, the acquisition will provide value for the company's stockholders.

On Wednesday, the Adani Green Energy division announced that it would pay Essel Infraprojects $150 million for a 50% stake in Essel Saurya Urja Company of Rajasthan Ltd. Adani Green Energy's renewable division, Adani Renewable Energy Holding Two Ltd, announced in a regulatory filing that it and Essel Infraprojects Ltd. signed into a legally binding term sheet on January 17, 2023. A 150 million cash payment is required for the acquisition. The government of Rajasthan will still hold the remaining 50% of the equity shares. According to the company's regulatory filing, Adani Renewable Energy Holding Two Limited, a Wholly-owned Subsidiary of Adani Green Energy Limited, entered into a binding term sheet on January 17, 2023 for the acquisition of 50% equity interest in Essel Saurya Urja Company of Rajasthan Limited (ESUCRI) from Seller. In Rajasthan, ESUCRL is the owner and operator of a solar park with a 750 MW capacity. In 2021–2022, it generated a turnover of 198.7 million. ESUCRL has a paid-up capital of $7465.59 million compared to its allowed capital of $500 million. To facilitate the installation of renewable energy producing plants by developers, ESUCRL constructs solar parks. The purchase will increase AGEL's presence in Rajasthan, where it already owns and manages a solar park through a joint venture with the Rajasthani government called Adani Renewable Energy Park Rajasthan Ltd. It was founded on May 27, 2015. According to the statement, the acquisition will provide value for the company's stockholders.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement