Adani Green Energy Subsidiary Signs Joint Venture Agreement with Minerva Holding for Indian RE Projects
Adani Renewable Energy Middle East Ltd, a wholly-owned subsidiary of Adani Green Energy Limited, executed a Joint Venture Agreement (JVA) on April 08, 2026. The agreement is with Minerva Holding RSC Ltd, forming Minerva Renewables Holding RSC Limited as the joint venture entity.The partnership involves EPointZero Holding RSC Ltd, the energy and infrastructure arm of International Holding Company PJSC, described as the largest listed company in the UAE with a market capitalization exceeding US$ 230 billion. This joint venture aims to develop, construct, and operate Renewable Energy (RE) projects in India.
Under the terms of the JVA, Adani Green Energy Limited's subsidiary, AGEL UAE, will invest up to 20% interest in the JVCo. Minerva is wholly owned by EPointZero.
Key aspects detailed regarding the joint venture include:
- Parties Involved: The Joint Venture Arrangement is between AGEL UAE, Minerva, and JVCo.
- Shareholding: Neither Adani Green Energy Limited nor AGEL UAE hold any shares in Minerva. Conversely, Minerva does not hold any shares in Adani Green Energy Limited or AGEL UAE. Both AGEL UAE and Minerva will hold shares in JVCo.
- Governance: Minerva is granted the right to appoint up to 4 Directors, while Adani Green Energy Limited has the right to appoint 1 Director. The Board of JVCo will be responsible for supervising and strategizing for JVCo and its subsidiaries.
- Relationship Status: Minerva is confirmed to be unrelated to the promoter or promoter group of Adani Green Energy Limited.
- Transaction Nature: The transaction does not fall under related party transactions, and the agreement is not related to any existing shareholding in the other parties.
The details of the investment and governance structure are summarized below:
| Aspect | Detail |
|---|---|
| Agreement Execution Date | April 08, 2026 |
| Primary Goal | Development of RE projects in India |
| AGEL UAE Investment | Up to 20% interest in JVCo |
| Minerva Ownership of EPointZero | Minerva is wholly owned by EPointZero |
| Director Appointment Rights | Minerva: Up to 4 Directors; Company: 1 Director |
| Related Party Status | No relationship found |
ADANIGREEN Stock Price Movement
As of 11:11 AM, Adani Green Energy Limited shares are gaining momentum, trading up 0.49% to reach ₹1034.65 in live market action. The stock’s upward push is supported by high investor interest, evidenced by a trading volume of 2.96 million shares.Source:
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