Adani Ventures Incorporates ARE51L And ARE55L Subsidiaries For Renewable Energy Expansion

Adani Green Energy Limited on Thursday announced that Adani Saur Urja (KA) Limited, a Wholly-owned subsidiary of the Company, has also incorporated its Wholly-owned subsidiary, namely, Adani Renewable Energy Fifty One Limited (ARE51L) on December 13, 2023, the company announced through an exchange filing.

The targeted entity, ARE51L, holds authorized capital worth Rs. 1,00,000, and its paid-up capital stands at the same amount. However, as of now, ARE51L has not initiated its business operations, resulting in a turnover of nil.

Adani Renewable Energy Holding Nine Limited Establishes Wholly-Owned Subsidiary, ARE55L

Furhermore, Adani Renewable Energy Holding Nine Limited, a Wholly-owned subsidiary of the Company, has incorporated its Whollyowned subsidiary, namely, Adani Renewable Energy Fifty Five Limited (ARE55L) on December 13, 2023, said via regulatory filing.

The entity ARE55L has an authorized capital of Rs. 1,00,000, with an equivalent paid-up capital of Rs. 1,00,000. As of now, ARE55L has not initiated business operations, resulting in a turnover of nil.

Both ARE51L and ARE55L are collectively referred to as the New Subsidiaries.

Objectives

The main objective of the New Subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy.

Adani Saur Urja (KA) Limited and Adani Renewable Energy Holding Nine Limited, Wholly-owned subsidiaries of the Company, holds 100% share capital of ARE51L and ARE55L, respectively.

New Subsidiaries are incorporated in India and registered with Registrar of Companies, Gujarat at Ahmedabad on December 13, 2023 and are yet to commence their business operations.

Published on: Thursday, December 14, 2023, 10:18 AM IST