Mumbai (Natural Energy News): Adani Green Energy has transferred three solar energy assets it acquired from Essel Group for a total of Rs 1,632 crore with the French company.
The three solar assets, with a combined capacity of 205MW, are located in Punjab, Karnataka and Uttar Pradesh. These assets have long term power purchase agreements (approximately 21 years) with various state electricity distribution companies.
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A total investment of Rs 310 crore has been made in the JV after the transfer of three properties.
Including this transfer, the total renewable portfolio under the 50:50 joint venture is 2,353MW. Adani and Total formed JV in April to have a portfolio of 2,148MW solar power assets in India.
The JV has formed with an enterprise value of Rs 17,385 crore.
"The latest (step) is in line with our ambition to achieve 25GW renewable energy capacity by 2025 and to become the world's largest renewable energy company by 2030," said Gautam Adani, chairman of Adani Group.
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