In a strategic move towards expanding its renewable energy portfolio, Adani Green Energy has officially initiated the formation of four new subsidiaries. These subsidiaries, namely Adani Renewable Energy Sixty (ARE60L), Adani Renewable Energy Sixty Two (ARE62L), Adani Renewable Energy Sixty Three (ARE63L), and Adani Renewable Energy Sixty Four (ARE64L), were incorporated by Adani Renewable Energy Holding Nine on December 18.
Objectives and Operations
According to regulatory disclosures made on Monday, these wholly-owned subsidiaries aim to engage in the entire spectrum of power-related activities. This includes the generation, development, transformation, distribution, transmission, sale, and supply of power or electrical energy. The sources of energy include wind, solar, and other renewable options.
Financial Details
Each of these newly formed subsidiaries has been authorized with a share capital of Rs 1 lakh, fully paid for by Adani Renewable Energy Holding Nine. This financial structure signifies Adani Green Energy’s commitment and investment in these ventures.
Registration and Operations
The subsidiaries have been successfully registered with the Gujarat Registrar of Companies, headquartered in Ahmedabad. This development aligns with Adani Green Energy’s broader strategy to diversify and strengthen its presence in the rapidly evolving renewable energy sector.
Adani Green Energy’s initiative highlights its dedication to sustainable practices and leveraging diverse sources of clean energy for power generation. The establishment of these subsidiaries positions the company for significant contributions to India’s renewable energy landscape.
Adani Green Energy continues to lead the way in sustainable energy initiatives, laying the groundwork for innovative developments in the renewable energy sector.
Source：businessworld.in
