Ahmedabad, India-headquartered Adani Green Energy Ltd., (AGEL) “acquired SB Energy Holdings Ltd., (SB Energy India) in an all-cash deal for which definitive agreements were signed on May 18, 2021,” a company statement said.
With this deal, SB Energy India is now a 100 percent subsidiary of AGEL while earlier it was a 80:20 joint venture between Japan-based SoftBank Group Corp., and New Delhi-based Bharti Group.
The transaction pegs SB Energy India at an enterprise valuation of $3.5 billion and marks the largest acquisition in the renewable energy sector in India. Vneet S. Jaain, managing director and CEO, AGEL, said, “This transaction takes AGEL closer to becoming the global leader in renewables.”
Speaking at JP Morgan India Investor Summit, Gautam Adani, chairman of Adani Group said that the group will invest over $20 billion over the next 10 years in renewable energy generation, component manufacturing, transmission and distribution.
Last updated: December 26th, 2025
