Subhash Chandra-promoted Essel Group has reached an agreement to sell 205 MW of operating solar assets of Essel Green Energy and Essel Infraprojects at an enterprise value of Rs 1,300 crore to Adani Group. The solar assets, located in Punjab, Karnataka and Uttar Pradesh, will be acquired by Adani Green Energy. The assets have long-term power purchase agreements (PPAs) with various state electricity distribution companies, Essel Group said. The average remaining PPA life for the portfolio is around 22 years.
Adani Green Energy to buy 205 MW Solar assets of Essel Group for Rs 1,300 crore
Date posted: Friday 30 August 2019