India’s Adani Green Energy buys operational 205MW from Essel Group

August 30, 2019
Facebook
Twitter
LinkedIn
Reddit
Email
 An Adani solar park. Source: Adani

Indian energy giant Adani Green Energy Limited has inked a deal to purchase 205MW of contracted and operational solar assets from Essel Group for an enterprise price of INR1,300 crore (US$182 million).

The purchased assets are in the states of Punjab, Karnataka and Uttar Pradesh and have long-term power purchase agreements (PPAs) with state electricity distribution companies that average around 22 years.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The deal was made with Essel Green Energy Private Limited and Essel Infraprojects, entities of the debt-laden Essel Group. The Mumbai-based conglomorate is run by Indian billionnaire Subhash Chandra, and is best known for its television and media businesses.

Essel Infraprojects counts 685MW of solar assets of which 310MW are operational. The group is looking to offload the remainder of its portfolio in order to shrink its debt, according to reports in India’s Business Today and Live Mint.

In a statement on Thursday, Adani Green Energy CEO Jayant Parimal said his company, one of the largest renewable power generation companies in India, now owns 5.5GW of renewable power, of which 2.5GW has been commissioned. 

In May, Adani Green Energy switched on a 50MWac solar PV project in Uttar Pradesh.

Read Next

October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
Ciel & Terre has launched a new floating PV structure designed to address the increasingly large scale of floating solar projects.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).
October 14, 2025
India has installed 4.9GW of residential rooftop solar capacity in the first half of 2025, according to a report by IEEFA and JMK Research.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal