Adani Green Energy Forms Two Step-Down Subsidiaries; Shares Jump 10%

MT Newswires Live

2024/11/28

Adani Green Energy (NSE:ADANIGREEN, BOM:541450) has incorporated two step-down subsidiaries named Adani Hydro Energy Two and Adani Hydro Energy Three, according to a Wednesday filing to the stock exchanges.

Adani Saur Urja (KA), a subsidiary of Adani Green Energy, owns 100% stake of the two companies.

The main objective of the two new companies is to generate, develop, transform, distribute, transmit, sell, and supply any power or electrical energy using wind, solar, or other renewable energy sources.

Shares of the company were up over 10% in recent trade.

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