Adani Green Energy shares are likely to be in focus following the company's announcement of a significant renewable energy agreement through its subsidiary operations. The company's wholly-owned step-down subsidiary, Adani Green Energy Twenty Five B Limited, has secured a Power Consumption Agreement with Asahi India Glass Limited for the supply of 20.8 MW of solar-wind hybrid power.

Project Details and Infrastructure

The solar-wind hybrid power supply will be generated from two dedicated facilities located at Khavda, Gujarat. The project comprises a 25 MW solar power plant unit and a 20.8 MW wind power plant unit, strategically positioned to maximize renewable energy generation.

Investment Agreement Structure

Alongside the Power Consumption Agreement, a tripartite Investment Agreement was executed involving Adani Green Energy Twenty Five B Limited (Generator), Adani Renewable Energy Holding Four Limited (AREH4L), and Asahi India Glass Limited (Captive User). The agreement aligns with captive power generation norms and regulatory requirements.

Under the investment framework, Asahi India Glass Limited has agreed to subscribe to a minimum of 26% of the proportionate equity share capital related to the project. This subscription will be made in one or more tranches to meet the Minimum Captive Shareholding requirements as per the Captive Rules.

Shareholding and Control Structure

The agreement establishes a clear ownership and control framework for the renewable energy project. AREH4L currently holds 100% stake in the generator entity, while AREH4L itself is a wholly-owned subsidiary of Adani Green Energy Limited.

Key Agreement Terms

The Investment Agreement includes several significant provisions that protect the interests of all parties involved. AREH4L maintains the right to appoint all directors on the Generator's board, ensuring operational control despite the equity participation by Asahi India Glass Limited.

Additionally, the agreement provides exit mechanisms for both parties. Upon termination of the Power Consumption Agreement, the Generator and AREH4L respectively have the right to buyback and purchase shares from the Captive User. The Investment Agreement remains subject to customary regulatory approvals.

Market Performance and Technical Analysis

Adani Green Energy shares ended marginally lower by 0.05% at ₹1,018.90, while the stock has gained 1.30% over the past year. From a technical perspective, the stock presents mixed signals across various timeframes.

The stock is currently trading below five of its eight key simple moving averages, including the 5-day, 20-day, 30-day, 50-day and 100-day SMAs, while remaining above the 10-day, 150-day and 200-day SMAs. The Relative Strength Index stands at 48.20, indicating the stock is neither overbought nor oversold.

Adani Green Energy Limited confirmed that the transaction does not constitute a related party transaction, as the company and its subsidiaries are not related to Asahi India Glass Limited. The agreement demonstrates Adani Green Energy's continued expansion in the renewable energy sector through strategic partnerships that combine solar and wind power generation capabilities at its Khavda facility in Gujarat.

Adani Green Energy has officially announced the incorporation of its step-down subsidiary, Adani Ecogen Seven Limited, through regulatory filings with BSE and NSE. The new entity was incorporated on January 2, 2026, with the Certificate of Incorporation received on January 7, 2026.

Subsidiary Incorporation Details

Adani Renewable Energy Holding Eleven Limited (AREH11L), a wholly-owned subsidiary of Adani Green Energy, has incorporated Adani Ecogen Seven Limited (AE7L) as its wholly-owned subsidiary. The company has established this entity as part of its strategic expansion in the renewable energy sector.

Business Objectives and Operations

The main objective of Adani Ecogen Seven Limited is to generate, develop, transform, distribute, transmit, sale, and supply any kind of power or electrical energy using renewable sources. The company will focus on wind energy, solar energy, and other renewable sources of energy generation.

Corporate Structure and Regulatory Compliance

The incorporation follows SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Adani Green Energy fulfilling all regulatory disclosure requirements. The step-down subsidiary structure allows the company to organize its renewable energy operations through specialized entities while maintaining operational flexibility.

This latest incorporation adds to Adani Green Energy's expanding subsidiary network, which includes other recently established entities like Adani Ecogen Eight Limited and Adani Ecogen Six Limited. The systematic creation of these subsidiaries demonstrates the company's structured approach to scaling its renewable energy portfolio and operational capabilities in the power generation and distribution sector.