Adani Green to buy 50 MW solar project

Adani Green Energy Ltd. (AGEL) has agreed to acquire a 100% stake in an SPV holding a 50 MW operating solar project of the Toronto-headquartered SkyPower Global.

The project is located in Telangana and was commissioned in October 2017 and has a long-term Power Purchase Agreement (PPA) with the Southern Power Distribution Company of Telangana.

On completion of the acquisition, AGEL will increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW.

The closing of the transaction is subject to customary approvals and conditions, the company said in a statement.