Adani Green Arm Signs Pact to Supply 20.8 MW Hybrid Power to Asahi India Glass

Adani Green Energy said its wholly owned step-down subsidiary has entered into agreements to supply solar-wind hybrid power to Asahi India Glass as part of a captive power arrangement.

Adani Green Energy Twenty Five B Limited has signed a power consumption agreement and a tripartite agreement to supply 20.8 MW of hybrid power to Asahi India Glass. The power will be sourced from a 25 MW solar project and a 20.8 MW wind project, both located at Khavda in Gujarat.

Alongside this, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited have also executed an investment agreement with Asahi India Glass on January 7 . Under the arrangement, Asahi India Glass will subscribe to at least 26% of the proportionate equity related to the project, in line with captive power rules.

Adani Renewable Energy Holding Four Limited currently holds 100% stake in the generator company. On completion of the final phase, it will hold 98.78% equity in the generator, while Asahi India Glass will hold 1.22% equity with voting rights. Adani Renewable Energy Holding Four Limited will retain the right to appoint all directors on the board of the generator.

The company said the transaction does not qualify as a related party transaction and is subject to customary approvals.