Adani Green’s acquisition of entire stake in SB Energy approved by CCI

Fair trade regulator Competition Commission of India (CCI) on Wednesday approved acquisition of entire shareholding in SB Energy by Adani Green Energy Limite.

"Commission approves proposed acquisition of the entire shareholding of SB Energy by Adani Green Energy," the regulator said in a tweet.

In May, Adani Green Energy had said it has inked share purchase agreements with SoftBank Group and Bharti Group for acquisition of 100 per cent stake in SB Energy India for $3.5 billion. The transaction would be the largest acquisition in the renewable energy sector in the country.

With this acquisition, AGEL will achieve total renewable capacity of 24.3 GW and operating renewable capacity of 4.9 GW.

According to Adani Green's statement issued in May, SB Energy India, a joint venture between Japan-based SoftBank Group Corp (80%) and Bharti Group (20%) has a total renewable portfolio of 4,954 MW spread across four states in India.