Abu Dhabi-based International Holding Company PJSC (IHC) is set to invest Rs 15,400 crore ($2 billion) in three Adani portfolio companies — Adani Green Energy (AGEL), Adani Transmission (ATL) and Adani Enterprises (AEL). The investment will happen through the preferential allotment route.

IHC will invest Rs 3,850 crore in AGEL, Rs 3,850 crore in ATL and Rs 7,700 crore in AEL. The transaction is expected to be completed in a month, after all necessary approvals are obtained.

International Holding Company PJSC engages in investing, trading, processing, and packing seafood products in the Middle East, Europe, and the Americas. It operates through utilities, real estate, digital, industrial, food, and capital segments.

The funding shows rising interest among global investors to partake a piece of Adani Group, helmed by Asia’s richest person, that has rapidly diversified from operating ports and power plants to renewable energy, airports, data centers, digital services and media among others. The first-generation entrepreneur Adani has embarked on an ambitious plan to invest as much as $70 billion across the green energy value chain by 2030.

The funding shows the Adani Group’s pivotal position in India’s clean energy transition. As it chases the target of turning net carbon zero by 2070, the country is seeking to reduce its dependence on fossil fuels with a massive expansion of renewables generation capacity as well as new technologies such as green hydrogen and energy storage -- all areas that Adani is focusing on.
Source-Business standard / Economic times/bloomberg