Adani Green Energy has completed the acquisition of 205 MW operating solar assets from Essel Green Energy and Essel Infraprojects. On 29 August 2019, Adani Green Energy (AGEL) announced the acquisition of ten MW of 10 MW solar assets from Essel Green Energy and Essel Infraprojects for Rs 1,300 crore.

AGEL has sent to the stock markets in Tahrir that these properties are located in Punjab, Karnataka, and UP. 'Everyone has a long-term power purchase agreement (PPA) with power distribution companies of different regions. This portfolio is still new. Their average PPA is still around 21 years. In this regard, Vineet Jain, Managing Director and Chief Executive Officer (CEO) of Adani Green Energy, said, "This is another step towards making AGEL a 25 GW renewable energy company by 2025".

The company's strategy for this is to invest Rs 1,12,000 crore in the renewable energy sector in the next five years. It may be noted that in June 2020, Adani Green Energy had reported that it had received a contract of Rs 45,000 crore from SECI for developing eight GW power generation capacity and setting up of two GW equipment manufacturing plant in India. AGEL said that as per the contract, it will develop a solar project of eight GW and simultaneously establish solar cell and module manufacturing capacity in addition to two GW. There can be many changes as well.

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