Qatar Investment Authority buys 2.7% stake in Adani Green for ₹3,956 crore

A 2.7% stake in Adani Green Energy (AGEL) was purchased on Monday through block deal by the West Asian sovereign investment fund Qatar Investment Authority for Rs 3,920 crore. According to banking sources, the group will utilise the money to pay off debt as well as for other regular business needs.

Given that the company has an operational capacity of 8,316 megawatts (Mw), making it the largest running renewable energy portfolio in the nation, the investment by the sovereign fund of Qatar is a substantial vote of confidence in the business.

The sovereign fund’s investment comes shortly after reports that the fund is looking to acquire a 1 per cent stake in Reliance Retail Ventures for $1 billion, thus valuing the Reliance group company at $100 billion.

The Adani group aims to invest $70 billion by 2030 in the renewable energy sector, which is already attracting investments from sovereign funds worldwide. New plants with cutting-edge solar modules, such as bifacial modules and horizontal single-axis trackers, as well as wind turbines, high plant and grid availability, and enhanced solar irradiation support the company's solar-wind hybrid portfolio, which has a capacity of 2,140 Mw.

Within seven years, the company wants to boost its operational capacity of 8.3 gigawatts (Gw) for renewable energy to 45 Gw.

Source: Media Reports

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