Adani Green Energy Forms New Step-Down Subsidiary for Renewable Energy

MT Newswires Live

02/18

Adani Green Energy (NSE:ADANIGREEN, BOM:541450) has incorporated a step-down subsidiary, Skyspin Energy, for power generation using renewable sources of energy, according to a Tuesday filing to the Indian stock exchanges.

The company's shares were down over 2% in Wednesday's trade.

The new entity is wholly owned by Adani Renewable Energy Holding Eleven, a wholly owned subsidiary of the company.

Skyspin Energy's main focus will be to generate, develop, transform, distribute, transmit, sell, supply any power or electrical energy using wind energy, solar energy, or other renewable sources of energy.

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