Adani Green signs power supply and investment deals with Asahi India Glass
Author: PPD Team Date: January 8, 2026
Adani Green Energy Limited (AGEL) announced on 7 January 2026 that its wholly owned step-down subsidiary, Adani Green Energy Twenty Five B Limited, has entered into two agreements with Asahi India Glass Limited.
Adani Green Energy Twenty Five B Limited has signed a Power Consumption Agreement (PCA) to supply 20.8 MW of solar-wind hybrid power to Asahi India Glass. The power will come from a 25 MW solar power plant unit and a 20.8 MW wind power plant unit located in Khavda, Gujarat.
On the same day, 7 January 2026, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited entered into an Investment Agreement with Asahi India Glass. The agreement is linked to the PCA for meeting captive power requirements.
To comply with captive regulations, Asahi India Glass will subscribe to at least 26% of the proportionate equity share capital related to the specific generating project. The company will make this investment in one or more tranches.
The announcements were made through disclosures to BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). According to the filing, Adani Green Energy Limited holds 100% of Adani Renewable Energy Holding Four Limited, which holds 100% of Adani Green Energy Twenty Five B Limited. After project completion, Adani Renewable Energy Holding Four Limited is expected to hold 98.78% in the generating subsidiary, while Asahi India Glass will hold 1.22%.
The Investment Agreement allows Adani Renewable Energy Holding Four Limited to appoint all directors to the subsidiary’s board. It also includes a mechanism for the buyback of Asahi India Glass’s shares if the PCA is terminated.
Adani Green Energy Limited stated that the transaction is not a related party deal and confirmed that the Adani entities and Asahi India Glass are unrelated. The disclosure has been made under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The featured photograph is for representation only.
