Adani Energy Solutions Limited — Important, 08-11-2024: General Updates

Adani Energy Solutions Ltd has established a wholly owned subsidiary, Progressive Grid Networks Limited, in Kenya through its UAE-based subsidiary, Adani Energy Solutions Global Limited. The new entity has an initial share capital of KES 10,00,00,000 and aims to explore opportunities in power transmission projects in Kenya. The acquisition is fully cash-based, with Adani holding 100% ownership, and the subsidiary is yet to commence business operations.