Adani Green Energy sets up a subsidiary to generate wind energy

Adani Green Energy has set up a wholly-owned subsidiary to generate wind energy.

Adani Wind Energy (GJ) Ltd (AWEGL) has been incorporated as Adani Green’s 100 per cent subsidiary on August 21, and is yet to commence its business operations. as per a BSE filing.

The company has been created at a cost of Rs 1,00,000 (10,000 shares of Rs 10 each).

Adani Green Energy recently announced the acquisition of 100 per cent stake of Adani Green Energy Pte Ltd (AGEPteL) from its Group firm Adani Global Pte Ltd.

AGEPteL was incorporated in March 2017 for investment in international renewable businesses, a BSE filing said.

According to the filing, AGEPteL has authorised and paid-up share capital of $2,000 with no turnover as on March 31, 2018.

AGEPteL is acquired with an objective of having the benefit of synergy and make it an investment arm of Adani Green Energy for international renewable businesses.

Source: PTI