INQ Holding LLC, a wholly-owned subsidiary of Qatar Investment Authority, Qatar’s sovereign wealth fund, has acquired a 2.7% stake in Adani Green Energy for ₹3,920 crore. Adani Green Energy serves as the renewable energy division of the Adani Group. This investment signifies another significant addition to Adani Green Energy’s portfolio, occurring a little over a month subsequent to GQG Partners and other investors purchasing stakes in both the company and its group counterpart, Adani Enterprises.
GQG Partners escalated its ownership in Adani Green from 3.50% to 6.32%, injecting ₹9,600 crore during that period. As reported by msn.com, Adani Green Energy aspires to elevate its renewable power capacity to 45 GW by 2030, predominantly driven by solar, wind, and solar-wind hybrid solutions. As of June 30, 2023, the Adani Group has achieved an operational capacity of 8,316 MW, in contrast to the 5,800 MW recorded on June 30, 2022.
