Adani Group Building. File | Photo: Vijay Soneji
Adani Group has merged two spin-off subsidiaries with eco-friendly hydrogen and wind turbine maker Adani New Industries Ltd. (ANIL), according to a stock filing on Wednesday (Oct 2, 2024).
“Adani Infrastructure Private Limited and Mundra Solar Technology Limited stand merged with Adani New Industries Limited, a wholly-owned subsidiary of the company,” the Adani Enterprises Ltd filing said. (AEL), the group’s flagship company.
Adani Infrastructure and Developers operates as a real estate company, building and developing thermal and solar energy projects, as well as providing engineering, techno-commercial, project management and control and commissioning services.
For less than three years, Mundra Solar Technology has been engaged in the generation, collection and distribution of electricity.
ANIL is a subsidiary of AEL which undertakes low carbon projects. Undertakes projects on green hydrogen and manufacture of wind turbines and batteries for solar modules. It serves the energy and utilities, transportation, logistics and incubation sectors worldwide.
According to a July note from CARE Ratings Ltd., Adani has an operational 4 GW solar PV module manufacturing facility with a reverse integration capacity of 4 GW solar PV cells and 2 GW ingot and wafer as well as the wind turbine generator (WTG) manufacturing facility in the wind segment.
ANIL is reportedly setting up facilities to manufacture solar glass, aluminum frames and backsheets – key parts for existing solar cell and module production.
French energy giant TotalEnergies holds a 25% stake in ANIL, while AEL holds the rest.
Published – 02 Oct 2024, 18:29 IST
