In a strategic move to reinforce its position in the renewable energy sector, Adani Green Energy has officially announced the establishment of two new step-down subsidiaries. The company’s unit, Adani Saur Urja, has successfully formed a wholly owned subsidiary named Adani Renewable Energy Fifty One, while its counterpart, Adani Renewable Energy Holding Nine, has introduced Adani Renewable Energy Fifty Five.
The primary objective behind the creation of these subsidiaries, as stated by the company, is to engage in the generation, development, transformation, distribution, transmission, sale, and supply of various forms of power or electrical energy. This initiative aims to leverage wind energy, solar energy, and other renewable sources to contribute to the sustainable energy landscape.
In a recent stock exchange disclosure, Adani Green Energy reported a significant milestone achieved by its associate firm, Mundra Solar Energy. Mundra Solar Energy has been awarded the commercial operational date certification by Solar Energy Corp. of India for its impressive 2 GW solar cell and module factory.
Adani Green Energy holds a substantial 26% stake in Mundra Solar Energy through its wholly owned subsidiary, Adani Renewable Energy Holding Four Ltd. This move underscores Adani Green Energy’s commitment to advancing its presence in the renewable energy market and aligns with the broader industry trend towards sustainable energy solutions.
The establishment of these subsidiaries and the successful certification of Mundra Solar Energy’s manufacturing facility mark significant strides for Adani Green Energy as it continues to play a pivotal role in India’s renewable energy landscape.