Adani gobbles SB Energy 💰

Adani gobbles SB Energy 💰

Adani Green Energy purchased all India based assets of SB Energy, a diversified global renewable energy player, from Masa Son’s Softbank in a $3.5 billion transaction yesterday.

Chase to meet targets—Adani Green Energy, which has been on a monstrous growth streak for the past couple years, is basically chasing a 25GW clean energy production capacity target it promised shareholders by 2025, acquiring and operating a diverse set of assets including massive wind farms, solar energy projects.

SB Energy meanwhile owns about 4.9 GW of renewable portfolio spread across four states in India, with 84% capacity in solar, with the rest in wind, and wind-solar hybrid. All of that will now accelerate Adani’s progress.

Masa Son probably would’ve never sold, but we’re guessing the recent windfalls in tech IPOs have reminded the man how he’s exceptionally talented at the software game than anything else.