Adani Green Energy Subsidiary Signs Joint Venture Agreement With Minerva Holding

Adani Green Energy has announced that its wholly-owned subsidiary, Adani Renewable Energy Middle East Ltd (AGEL UAE), has executed a Joint Venture Agreement with Minerva Holding RSC Ltd for renewable energy development in India. The agreement was signed on April 08, 2026 at 11:50 p.m. IST for Minerva Renewables Holding RSC Limited.

Joint Venture Structure and Ownership

The partnership establishes a comprehensive framework for renewable energy project development across India through a structured joint venture arrangement. The collaboration involves EPointZero Holding RSC Ltd, the energy and infrastructure arm of International Holding Company PJSC (IHC Group), UAE's largest listed company with market capitalization over US$ 230.00 billion.

Parameter:	Details
Joint Venture Partner:	Minerva Holding RSC Ltd
AGEL UAE Stake:	Up to 20%
Parent Company:	EPointZero Holding RSC Ltd
Ultimate Parent:	International Holding Company PJSC
Market Cap (IHC Group):	Over US$ 230.00 billion
Agreement Date:	April 08, 2026

Governance and Board Structure

The joint venture incorporates a balanced governance framework that reflects the strategic interests of both parties. The board composition ensures appropriate representation from both partners in operational and strategic decision-making processes.

Governance Aspect:	Details
Minerva Directors:	Up to 4 Directors
Company Directors:	1 Director
Board Responsibility:	Supervising and strategizing for JVCo and subsidiaries
Geographic Focus:	India
Project Type:	Renewable Energy Development

Strategic Partnership Framework

The collaboration between Adani Green Energy and Minerva Holding creates opportunities for enhanced project development capabilities in India's growing renewable energy sector. The joint venture is designed for development, construction and operation of renewable energy projects in India, leveraging the combined expertise of both organizations.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The agreement does not involve any related party transactions, and neither party holds existing shareholding in the other entity prior to this joint venture arrangement.

This strategic partnership positions both companies to capitalize on India's renewable energy expansion opportunities through their combined operational capabilities and international expertise in the renewable energy sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.91%	+26.79%	+27.07%	+3.22%	+26.09%	-5.02%

Adani Green Energy has filed formal documentation with the United States District Court for the Eastern District of New York as part of its strategy to dismiss the Securities and Exchange Commission complaint against its directors.

Court Filing and Legal Proceedings

The company has submitted a pre-motion conference letter to the EDNY judge, informing the court that defendants Mr. Gautam Adani and Mr. Sagar Adani are prepared to attend a pre-motion conference if scheduled. This filing represents a significant step in the legal proceedings that began with the SEC complaint filed against the individual directors.

Dismissal Grounds and Legal Strategy

The defendants have outlined comprehensive grounds for dismissal of the SEC complaint in their court submission. The legal strategy encompasses multiple procedural and jurisdictional challenges to the regulatory action.

Legal Ground:	Details
Personal Jurisdiction:	Court lacks jurisdiction over defendants
Extraterritorial Claims:	SEC claims are impermissibly extraterritorial
Actionable Statements:	No alleged misstatements are actionable
Involvement in Offering:	Defendants' lack of involvement bars SEC claims
Target Timeline:	Motion to dismiss by April 30, 2026

Company's Position and Clarifications

Adani Green Energy has reiterated that it is not a party to these proceedings and no charges have been brought against the company itself. The organization has emphasized that the defendants have not been charged with violations of the United States Foreign Corrupt Practices Act, confirming there are no charges of bribery or corruption against the defendants.

Regulatory Compliance and Communication

The company has maintained transparent communication with stock exchanges, filing this update as part of its obligations under Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015. This represents the latest in a series of intimations to BSE Limited and National Stock Exchange of India Limited regarding the civil proceedings.

The formal court filing demonstrates the company's commitment to addressing the regulatory proceedings through established legal channels while maintaining its operational focus and stakeholder communication.