Qatar wealth fund to invest $450 M in India’s Adani Transmission unit
Qatar: Qatar’s sovereign wealth fund will invest $450 M in a unit of Indian power company Adani Transmission Ltd for a 25.1 % stake.
Qatar: Qatar’s sovereign wealth fund will invest $450 M in a unit of Indian power company Adani Transmission Ltd for a 25.1 % stake.
Qatar Investment Authority will buy the stake in Adani Electricity Mumbai Ltd (AEML) in a deal that will also include subordinated loans.
AEML is an integrated power distribution, transmission and generation business that serves more than 3 million consumers in Mumbai, India’s financial capital.
The two sides also said they plan to ensure that about 30 % of the electricity supplied by AEML will be sourced from solar and wind power plants by 2023.
The transaction is expected to be completed in early 2020.
Source: Reuters