Adani Green Energy Limited on Friday (October 31) informed exchanges that its subsidiaries have executed investment agreements with RSWM Limited, following the power consumption arrangements announced earlier this week. (Exchange filing timestamp: 7:46 PM IST)
As per the filing, the agreements have been signed between:
- Adani Renewable Energy Holding Eighteen Ltd and Adani Solar Energy Jodhpur Six Ltd with RSWM Ltd, and
- Adani Renewable Energy Holding Four Ltd and Adani Renewable Energy Forty One Ltd with RSWM Ltd.
These agreements enable RSWM to subscribe to a minimum 26% equity stake in the respective project SPVs, in compliance with captive power rules. The stakes will be acquired in tranches to meet the Minimum Captive Shareholding requirement.
Post completion, Adani subsidiaries will retain 98.37% and 97.67% equity in the respective generator entities, while RSWM will hold 1.63% and 2.33%, according to the submission.
The investment agreements also allow Adani subsidiaries to buy back shares from RSWM upon termination of the power consumption contract. Approval conditions and regulatory formalities apply.
The filing clarified that this is not a related-party transaction.
This move follows Adani Green’s ongoing strategy to scale up captive renewable partnerships with industrial consumers.
