Adani Green Energy Limited's stepdown subsidiary has entered into a power supply and investment agreement with Asahi India Glass Limited for delivering 20.8 MW of solar-wind hybrid power from its Khavda plant in Gujarat. The partnership marks a strategic step toward industrial decarbonization through captive renewable energy.
Adani Green Energy Twenty Five B Limited, a wholly-owned stepdown subsidiary of Adani Green Energy Limited, and Adani Renewable Energy Holding Four Limited have executed a Power Consumption Agreement (PCA) and a Tripartite Investment Agreement with Asahi India Glass Limited on January 7, 2026, at 6.09 p.m. IST.
The arrangement will ensure supply of 20.8 MW hybrid power sourced from a 25 MW solar power unit and a 20.8 MW wind power unit at Khavda, Gujarat. It also aligns with the Captive Rules allowing Asahi India Glass to hold equity in the generation entity.
Key updates and highlights
-
The PCA and Investment Agreement were executed for captive consumption of renewable power by Asahi India Glass.
-
Asahi India Glass will hold a minimum 26% of the proportionate equity share capital relating to the project.
-
Upon completion, Adani Renewable Energy Holding Four Limited will hold 98.78% and Asahi India Glass 1.22% equity with voting rights in the generator entity.
-
Adani Renewable Energy Holding Four Limited will retain the right to appoint all directors on the board of the generator company.
-
The transaction does not qualify as a related party transaction and is executed on arm’s length basis.
-
The agreements remain subject to customary regulatory approvals.
Sources: BSE Corporate Filing, Adani Green Energy Limited Regulatory Disclosure