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AGEL Forms New Subsidiary To Focus On The Renewable Energy Sector

Now you might be wondering why the Adani Group has taken up the decision to incorporate new subsidiaries for its renewable energy business amidst the ongoing Controversies of the Adani Case. Well, this is being done to focus on the companyu2019s renewable energy business

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AGEL Forms New Subsidiary To Focus On The Renewable Energy Sector

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  1. AGEL Forms New Subsidiary To Focus On The Renewable Energy Sector

  2. PAGE 2 OF 15 • Adani Green Energy Limited (AGEL) has recently announced the incorporation of a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L) amidst the ongoing Adani Case. According to AGEL’s filings to the stock exchange, Adani Green Energy Sixty Eight Limited (AGE68L) is incorporated in India. The company will work mainly in the renewable energy sector. The company has also mentioned that Adani Renewable Energy Holding Nine Limited, a wholly owned subsidiary of AGEL, holds a 100 per cent share capital of AGE68L.

  3. PAGE 3 OF 15 The Incorporation Of A New Subsidiary: • As per the latest news, the Adani Group has recently formed a new subsidiary named Adani Green Energy Sixty Eight Limited (AGE68L). This subsidiary has been formed by Adani Renewable Energy Holding Nine Limited. The main objective of AGE68L is to generate, develop, distribute, transform, transmit, sell, and supply any kind of power or electrical energy using solar energy, wind energy, or other renewable energy sources. The authorised capital and paid-up capital of AGE68L are kept at INR 1,00,000. Adani Renewable Energy Holding Nine Limited which is a wholly owned subsidiary of AGEL holds 100% share capital of AGE68L. AGE68L is incorporated in India. It is registered with the Registrar of Companies. The company has yet to begin its various business operations.

  4. PAGE 4 OF 15 Why Incorporate A New Subsidiary? • Now you might be wondering why the Adani Group has taken up the decision to incorporate new subsidiaries for its renewable energy business amidst the ongoing Controversies of the Adani Case. Well, this is being done to focus on the company’s renewable energy business. The newly incorporated wholly-owned subsidiary will be completely focused on bringing about a green energy transition in the country. This will help the Adani Group in further expanding its renewable energy business. The company will be able to take its business to new heights. It will also be able to walk the path towards enhanced sustainability. We will no longer have to be dependent on exhaustive fuel sources to meet all our energy demands.

  5. The Adani Group’s Elaborate Presence In The Renewable Energy Sector: • As you know, AGEL is a major renewable energy company and a subsidiary of the Adani Group. The company is currently enabling green energy transition in India as well as abroad. AGEL owns, develops, and operates utility-scale, grid-connected solar, wind, and hybrid renewable energy power plants both in India as well as abroad. The company is currently in the process of developing a massive 30 GW renewable energy plant at Khavda in Gujarat. This renewable energy park is spread across 538 square km of land. It is so big that it is visible even from space. In fact, it is 5 times the size of Paris.

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