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Adani Green Energy Limited (AGEL) has signed share purchase agreements for the acquisition of 100% interest in SB Energy India from SBG (80%) and Bharti Group (20%).
SB Energy India has a total renewable portfolio of 4,954MW spread across four states in India. The transaction values SB Energy India at an enterprise valuation of approximately USD 3.5 billion. The target portfolio consists large scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW).
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