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Adani Green Energy has entered into a joint venture through its subsidiary AGEL UAE with Minerva Holding RSC, a wholly owned arm of EPointZero, to develop renewable energy projects in India. EPointZero is part of the UAE-based IHC Group, one of the largest listed companies globally. The agreement includes provisions for equity participation and board representation. The partnership reflects increasing cross-border investments in India's clean energy sector and aligns with the country's long-term renewable energy expansion plans.
Adani Green Energy Ltd has announced that its subsidiary, Adani Renewable Energy Middle East Ltd (AGEL UAE), has signed a joint venture agreement with Minerva Holding RSC to develop renewable energy projects in India. Advertisement
As per a regulatory filing, EPointZero Holding RSC Ltd, which serves as the energy and infrastructure arm of International Holding Company PJSC (IHC Group), has entered into a joint venture with Adani Green Energy for the development, construction and operation of renewable energy assets in India. The filing indicated that the joint venture will focus on building and managing clean energy projects across the country.
Minerva Holding RSC, which is wholly owned by EPointZero, will be part of this joint venture structure. IHC Group, the parent entity of EPointZero, is among the largest listed companies in the UAE, with a market capitalisation exceeding USD 230 billion, reflecting the scale and financial backing behind the partnership.
Under the terms of the agreement, AGEL UAE will acquire up to a 20 per cent stake in the joint venture entity, Minerva Renewables Holding RSC. In terms of governance, Minerva will have the right to appoint up to four directors to the board, while Adani Green Energy will have the right to nominate one director.
This development comes at a time when India is witnessing increased international participation in its renewable energy sector, supported by policy push and rising demand for clean power. Adani Green Energy, one of India's leading renewable energy companies, has been actively expanding its portfolio through both organic growth and strategic partnerships, including earlier collaborations with global investors to scale up solar and wind capacity.
Source PTI
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