• The transaction could price SB Energy at a sum of more than $650 million.
  • An announcement is expected to come in the following weeks.
  • The deal is anticipated to help Adani Green Energy in reaching its 25GW of planned generation capacity by 2025.

Indian renewable energy company, Adani Green Energy Ltd., has reportedly entered negotiations for the acquisition of privately-held SB Energy Holdings Limited.

As per sources close to the matter, a transaction could price SB Energy, owned by Bharti Enterprises Ltd., and SoftBank Group Corp., at a sum of over $650 million. According to additional sources, Adani Green is traversing a buyout of SB Energy by means of an all-stock deal.

While an announcement is expected to come in the following weeks, it is likely that discussions could fall apart or still be delayed. Representatives for Bharti Enterprises and Adani Green did not give immediate response to requests for comment. In addition, a representative for SoftBank also declined to comment.

As cited by reports, an agreement could help Adani Green in reaching its 25 gigawatts of planned generation capacity by 2025. Shares in Adani Green Energy climbed nearly 5% on 17th May 2021, Monday. This accounted to their highest level in over a month. The levels have escalated almost 400% in the past year, providing a market value of almost $24 billion to the company.

Back in March 2021, AGEL (Adani Green Energy Ltd) secured a debt package of USD 135 billion via definitive agreements for the company’s renewable asset portfolio which is under-construction. These agreements have been signed with a group of leading international lenders.

The revolving project finance unit would earlier finance the 1.69 GW hybrid portfolio of wind and solar renewable projects that are to be setup in four SPVs in the state of Rajasthan, India.

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