Adani Green Energy, a leading player in the renewable energy sector, has announced the incorporation of two step-down subsidiaries, Adani Renewable Energy Fifty One Ltd (ARE51L) and Adani Renewable Energy Fifty Five Ltd (ARE55L). This strategic move underscores the company’s commitment to expanding its presence in the rapidly growing renewable energy market.
According to a filing with the Bombay Stock Exchange (BSE), Adani Saur Urja (KA) Ltd, a wholly-owned subsidiary of Adani Green Energy, has incorporated Adani Renewable Energy Fifty One Ltd, while Adani Renewable Energy Holding Nine Ltd, another wholly-owned subsidiary, has incorporated Adani Renewable Energy Fifty Five Limited. Both subsidiaries were officially registered with the Registrar of Companies, Gujarat, in Ahmedabad on December 13, 2023.
Each of the newly formed subsidiaries has an authorized as well as paid-up share capital of Rs one lakh, signalling a solid financial foundation for their operations.
The primary objective of these step-down subsidiaries is to engage in the generation, development, transformation, distribution, transmission, sale, and supply of power or electrical energy, leveraging renewable sources such as wind energy, solar energy, and other sustainable alternatives. This aligns with Adani Green Energy’s overarching mission to contribute to a cleaner and greener future.
While the subsidiaries are now officially incorporated, they are yet to commence their business operations. This development positions Adani Green Energy for further growth in the renewable energy sector, allowing the company to tap into emerging opportunities and play a pivotal role in India’s transition towards sustainable and eco-friendly energy solutions.
Adani Green Energy has been a trailblazer in the renewable energy space, consistently demonstrating a commitment to innovation and sustainability. With the addition of Adani Renewable Energy Fifty One Ltd and Adani Renewable Energy Fifty Five Ltd to its portfolio, the company is poised to strengthen its position as a key player in India’s renewable energy landscape.
