Adani Green Energy Arms Incorporate Two New Subsidiaries

Adani Green Energy Ltd. arms have incorporated two new renewable energy subsidiaries on Wednesday.

Adani Saur Urja Ltd., a wholly owned subsidiary of Adani Green Energy, has incorporated a fully owned subsidiary, Adani Renewable Energy Fifty One Ltd., an exchange filing said.

While Adani Renewable Energy Holding Nine Ltd., another wholly owned subsidiary, has also incorporated Adani Renewable Energy Fifty Five Ltd.

The authorised and paid up capital of the companies is Rs 1 lakh and turnover is nil.

The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy, the company said.

Shares of Adani Green Energy were up 3.56% on BSE, tracking other group stocks, in early trade, as compared with 1.25% rise in Benchmark BSE Sensex.

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