Abu Dhabi – Mubasher: Global Holding Company announced today the completion of an investment deal worth 7.3 billion dirhams ($2 billion) in the portfolio of the Adani group of companies, which is “Adani Green Energy Limited”, “Adani Transmission Limited” and “Adani Enterprise Limited”.
The global holding company will provide capital to Adani Green Energy Limited, Adani Transmission Limited and Adani Enterprise Limited, all of which are listed on the Bombay Stock Exchange and the National Stock Exchange of India through the preferential allocation route, according to a press release.
Sayed Basr Shuaib, CEO and Managing Director of the International Holding Company, indicated that this deal represents 4.87% of the total trade between the UAE and India, which amounted to $41 billion between 2020 and 2021.
He explained that the global holding company will support the acceleration of the growth plan of the “Adani Group” to supply the country with 45 gigawatts (9%) of non-fossil energy in India by 2030.
Adani Power Mumbai Limited is the distribution arm of Adani Limited Transmission, and has statutory targets to increase renewable energy penetration from 3% in FY21 to 60% by FY27, and the investments of the global holding company will support the company in this transformative journey. .
Through its wholly owned subsidiary, Adani New Limited & Styre, Adani Enterprises has pledged to invest $50 billion over the next nine years to form a new green hydrogen pillar focused on decarbonizing industrial energy and mobility.
The transaction was facilitated by First Abu Dhabi Bank and Standard Chartered Bank, and provided by the Emirati law firm Norton Rose and the Indian firm.AZB Partner“Legal consulting and actuarial support, respectively, and the company worked”WTS DhruvaAs a tax advisor.
It is noteworthy that the profits of the International Holding Company rose to 3.55 billion dirhams in the first quarter of 2022, compared to profits of 1.5 billion dirhams in the first quarter of 2021.
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