Adani Enterprises Merges Subsidiaries to Boost Green Energy Growth

3 Oct 2024 , 10:20 AM

Adani Enterprises (AEL) has merged two subsidiaries—Adani Infrastructure and Mundra Solar Technology—into Adani New Industries Limited (ANIL) to strengthen its green energy ecosystem.

The merger became effective on October 1, with all procedural formalities and statutory filings completed. ANIL is ramping up solar and wind power manufacturing while optimizing its supply chain.

The company’s wind manufacturing business has received certification for a 3 MW wind turbine, and its solar manufacturing reached full capacity at 4GW by the June quarter.

ANIL is focusing on solar, wind power, electrolyzer, and green hydrogen production to boost its renewable energy portfolio.

Future capital expenditure (capex) requirements for ANIL will be funded through Adani Enterprises’ planned Qualified Institutional Placement (QIP), expected to launch next week. ANIL is integrated into the broader Adani ecosystem, which includes data centers, airports, and roads.

Compared to the June 2023 quarter, ANIL saw a 125% increase in solar module sales, reaching 1,379 MW. Established in 2022, ANIL is a key player in Adani Group’s green hydrogen and sustainable energy plans.