Shares of Adani Green Energy Ltd fell 2% on 8th January after touching a day’s high of Rs 1,024.10. This occurred despite the company saying yesterday that its wholly-owned step-down subsidiary, Adani Green Energy Twenty Five B Ltd, has signed a power consumption and tripartite agreement. The agreement is to supply 20.8 MW of solar-wind hybrid power to Asahi India Glass Ltd (AIS).

Adani Green said the 20.8 MW renewable power will come from a 25 MW solar unit and a 20.8 MW wind unit. Both are located at Khavda, Gujarat.

Along with the power supply, Adani Green Energy Twenty Five B Ltd and Adani Renewable Energy Holding Four Ltd (AREH4L) signed an investment agreement with Asahi India Glass. This took place on 7th January, 2026. It was done in accordance with captive power generation norms.

Under the deal, Asahi India Glass, as the captive user, will subscribe to at least 26% of the project’s proportionate equity. This will occur in one or more tranches. It is to meet captive shareholding requirements.

Currently, AREH4L holds 100% of the generator entity and is a wholly-owned subsidiary of Adani Green Energy Ltd. After completion, AREH4L will hold 98.78%, and Asahi India Glass will have 1.22% with voting rights.

The agreement allows AREH4L to appoint all directors to the generator’s board. It also grants Asahi India Glass the right to buy back its shares upon termination of the power consumption agreement. This is subject to approvals.

Adani Green Energy clarified that the deal is not a related-party transaction. Neither the company nor its subsidiaries hold any stake in Asahi India Glass.

At 12:22 PM, shares of Adani Green were trading 2.17% lower at Rs 997.10 on NSE.

Tradz by EquityPandit leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!