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Adani portfolio companies complete Rs 15,400 crore transaction with IHC – Times of India


AHMEDABAD: Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC) on Tuesday announced the completion of an investment transaction of Rs 15,400 crore (US $2 billion) in three Adani Group companies. The Adani Portfolio companies, Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL).
Adani Enterprises Limited, through its wholly owned subsidiary Adani New Industries Limited has undertaken to invest US $50 billion over the next nine years forming a new green hydrogen vertical focused on decarbonisation of industrial energy and mobility.
IHC has provided capital to the three entities through a preferential allotment route. Syed Basar Shueb, CEO and managing director, IHC, said, “This strategic expansion of our business aligns with IHC’s commitment to broadening and diversifying our investment portfolio. The deal represents 4.87% of the total trade between the UAE and India, which has reached US $41 billion between 2020 and 2021; the partnership between IHC and Adani Group greatly reflects the economic ties between the UAE and India beyond the oil sector.”
Adani Electricity Mumbai Limited, the distribution arm of ATL has legally covenanted targets to increase the renewable energy penetration from 3% in FY21 to 60% by FY27. IHC’s investment will support ATL in this transformational journey.
India’s total electricity generating capacity is more than 390GW, and renewables exceed 100 GW. Last year at the United Nations Climate Change Conference, the Indian government announced that by 2030 India’s non-fossil fuel capacity would be 500 GW. IHC’s investment will accelerate Adani Group’s growth plan to supply the country with 45 GW (9% of India’s non-fossil energy) by 2030.
Sagar Adani, executive director, Adani Green Energy Ltd, said, “This transaction marks the further strengthening of the India – UAE relationship and highlights the long history of business and trust between our peoples. We share IHC’s strategic vision for India, Middle East, and Africa as we embark on this inter-generational relationship.”





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