Shares of Adani Green Energy rose 5 percent intraday Friday as company acquired 100 percent equity share capital of Adani Renewable Energy Park (AREPL) from Adani Tradecom LLP and Adani Trading Services LLP.
AREPL was incorporated in March 2015 for the purpose of undertaking the business of development of integrated renewable energy parks.
AREPL has entered into a joint venture agreement with Government of Rajasthan and formed a JV company viz. Adani Renewable Energy Park Rajasthan to develop solar parks upto 10,000 MW capacity.
The meeting of the board of directors of the company will be held on August 11, 2018 to consider and approve the unaudited financial results for the quarter ended June 30, 2018.
At 10:01 hrs Adani Green Energy Limited was quoting at Rs 65.85, up Rs 2.10, or 3.29 percent on the BSE.