Adani merges step-down subsidiaries with ANIL

New Delhi, Oct 2 (PTI) Adani group has merged two step-down subsidiaries with green hydrogen and wind turbine manufacturing firm Adani New Industries Ltd, according to a stock exchange filing on Wednesday.

“Adani Infrastructure Private Limited and Mundra Solar Technology Limited stands amalgamated with Adani New Industries Limited, a wholly owned subsidiary of the company,” Adani Enterprises Ltd, the group’s flagship firm said in the filing.

Adani Infrastructure and Developers operates as a real estate company, constructing and developing thermal and solar power projects as well as providing engineering, techno-commercial, project management and control, and commissioning services.

Less than three years old Mundra Solar Technology is involved in production, collection and distribution of electricity.

Adani New Industries Ltd (ANIL) is a subsidiary of Adani Enterprises Ltd that undertakes low-carbon projects. It undertakes green hydrogen projects, manufacturing of wind turbines and solar modules batteries. It serves energy and utilities, transportation, logistics and incubation sectors worldwide.

According to a July note by CARE Ratings Ltd, Adani has an operational facility for manufacturing 4 GW of solar PV modules with backward integration capacity of 4 GW of solar PV cells and 2 GW of ingot and wafer, and the wind turbine generator (WTG) manufacturing facility under the wind segment.

ANIL is reportedly setting up facilities to produce solar glass, aluminium frames, and backsheets — key parts for its existing solar cell and module manufacturing.

French energy giant TotalEnergies holds a 25 per cent equity stake in ANIL while AEL holds the remaining.