News: Adani-Minerva Renewable JV in India

By Michael Marray

Mumbai, INDIA (Press Statement) -- Adani Renewable Energy Middle East, a wholly-owned subsidiary of Adani Green Energy, has entered into a joint-venture agreement with Minerva Holding RSC from the United Arab Emirates to develop renewable energy projects in India.

Under the agreement, Adani will acquire up to 20% stake in joint-venture entity, UAE-based Minerva Renewables Holding RSC. The shareholding structure reflects a strategic minority participation by Adani Green Energy, while operational collaboration is expected to be jointly organized.

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Adani Renewable Energy Middle East was incorporated in the UAE back in February, with the aim of participating in energy transition opportunities across the Middle East. Adani Green is listed on the National Stock Exchange of India.

Minerva Holding RSC is wholly owned by EPointZero. International Holding Company PJSC, the parent of EPointZero, is listed on the Abu Dhabi Securities Exchange ( ADX ).

Source: The Asset