Adani Green Energy Limited — Important, 26-02-2025: Updates

Adani Green Energy Limited has executed a Share Subscription and Shareholders’ Agreement with Adani Renewable Energy Holding Nine Limited, Adani Renewables Energy Three Limited, and DC Development Noida Limited. This agreement allows the Captive User to invest at least 26% of the equity share capital of the Generator, aligning with the Minimum Captive Shareholding required by applicable rules. Upon completion of the final phase, Adani Renewable Energy Holding Nine Limited will possess 70.12% of the Generator's shares, while the Captive User will hold 29.88%. The agreement includes terms granting Adani Renewable Energy Holding Nine Limited the right to appoint all directors on the Board of the Generator and contains options for exiting that maintain alignment with the Captive Rules. This strategic partnership within the Adani Group highlights a commitment to expanding renewable energy initiatives, presenting a positive outlook for future growth in the sector.