Fair trade regulator CCI on Wednesday approved acquisition of entire shareholding in SB Energy by Adani Green Energy Ltd.
In May, Adani Green Energy had said it has inked share purchase agreements with SoftBank Group and Bharti Group for acquisition of 100 per cent stake in SB Energy India for $3.5 billion. The transaction would be the largest acquisition in the renewable energy sector in the country.
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With this acquisition, AGEL will achieve total renewable capacity of 24.3 GW and operating renewable capacity of 4.9 GW. According to Adani Green's statement issued in May, SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India.
"Commission approves proposed acquisition of the entire shareholding of SB Energy by Adani Green Energy," the regulator said in a tweet.