Adani Green Energy Limited (AGEL) has established a wholly owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), to expand its presence in the renewable energy sector. The subsidiary was incorporated under Adani Renewable Energy Holding Nine Limited, another wholly owned subsidiary of AGEL, as stated in the company’s filing with stock exchanges.
AGE68L’s primary focus will be on generating, developing, transforming, distributing, transmitting, selling, and supplying power using wind, solar, and other renewable energy sources. The subsidiary is incorporated in India and registered with the Registrar of Companies in Gujarat, at Ahmedabad.
The authorised and paid-up capital of AGE68L has been set at Rs 100,000. Adani Renewable Energy Holding Nine Limited holds 100 per cent of the share capital in AGE68L. The newly incorporated subsidiary has not yet commenced its business operations, according to the exchange filing.
Earlier this month, Adani Renewable Energy Holdings Twelve, a subsidiary of AGEL, secured 50 MW capacity at Rs 3.10 per kWh in the Solar Energy Corporation of India’s Tranche XVIII auction for 1,000 MW of ISTS-connected solar power projects.
