Adani to acquire 50 per cent stake in Rajasthan’s Essel Saurya

The Adani Renewable Energy Two Limited has signed a binding agreement to acquire a 50 per cent equity stake in Rajasthan’s Essel Saurya Urja Company (ESUCRL). According to Adani Group, ESUCRL owns and operates a 750 MW solar park in Rajasthan and the acquisition will allow the company to expand its presence in the state. The transaction is expected to close on February 28, 2023. Furthermore, Adani Green Energy Limited stated that it already owns and operates the Adani Renewable Energy Park Rajasthan which was established in a joint venture with the state government.

Recently in January 2023, the Adani Electricity Mumbai Limited requested bids for 1,500 MW of round-the-clock (RTC) power from grid-connected renewable energy projects, supplemented by firm power from any other source. The total capacity of 1,500 MW includes 750 MW with an additional 750 MW under the greenshoe option.

Additionally, in December 2022, Adani Green Energy completed the construction of a 450 MW hybrid power plant near Jaisalmer, Rajasthan. The facility is AGEL’s third wind-solar hybrid power plant to be put into operation in the region. The hybrid power plant, which is outfitted with cutting-edge technology, has a solar capacity of 420 MW and a wind capacity of 105 MW.