Under the structure, AGEL can draw up to USD 1,700 million (including the present issuance) over the course of time subject to the covenants of the structure.
The consolidated net profit of the firm was Rs 22 crore in the quarter ended June 30, 2020, the company said in a regulatory filing.
According to Ambani, Reliance will spend Rs 75,000 crore on the new energy business over three years and has already begun work on building a 5,000-acre hub in Jamnagar, Gujarat.
Shares of Adani Enterprises on Monday crashed 25 per cent intra-day to Rs 1,201 on the BSE. Similarly, Adani Ports and Special Economic Zone (APSEZ) plummeted 19 per cent during the day.
According to reports, NSDL has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, which together own more than Rs 43,500 crore worth of Adani shares.
The project has a 25-year power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) at Rs 2.82 per kilowatt-hour.
The transaction is done at arm's length basis and shareholding transferred based on the basis of an independent valuation report.
SB Energy is owned jointly by Japanese investment giant Softbank and India’s Bharti Group. Softbank owns an 80 per cent stake and Bharti the rest.
With the successful commissioning of this plant, AGEL has an operational solar generation capacity of over 3 GW.
The projects, commissioned in 2017, have long-term power purchase agreements (PPA) with the Southern Power Distribution Company of Telangana.