50% of Rajasthan’s Essel Saurya Urja Company to purchased by Adani Green Energy.

The Adani Green Energy division said on Wednesday that it would pay Essel Infraprojects 15 crore to buy 50% of the equity in Essel Saurya Urja Company of Rajasthan Ltd.

According to a regulatory filing by Adani Green Energy, its renewable division Adani Renewable Energy Holding Two Ltd. and Essel Infraprojects Ltd. signed into a legally binding term sheet on January 17, 2023.

The acquisition cost is Rs. 15 crore in cash. The Rajasthan government would continue to hold the remaining 50% of the equity shares.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.

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