Adani Renewable Energy Middle East Limited (AGEL UAE), a wholly-owned subsidiary of Adani Green Energy Limited, has entered into a joint venture agreement with Minerva Holding RSC Limited (Minerva) to form Minerva Renewables Holding RSC Limited. According to the agreement, Minerva Renewables Holding RSC Limited will undertake the development, construction, and operation of renewable energy projects in India.
The agreement further states that AGEL UAE will invest in Minerva Renewables Holding RSC Limited for up to a 20 per cent stake. Furthermore, Minerva will have the right to appoint up to four directors, and AGEL will have the right to appoint one director. The board of Minerva Renewables Holding RSC Limited will be responsible for supervising and strategising for the company and its subsidiaries.
Earlier this month, AGEL, through its various step-down subsidiaries, operationalised a total of 951 MW of renewable projects across Baiya, Rajasthan, and Khavda, Gujarat.
In December 2025, AGEL commissioned 200 MW of solar projects at Khavda, Gujarat, through its various step-down subsidiaries.
