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 (Subsidiary of EPointZero Holding RSC Ltd) projects in India.

The partnership brings together one of India's leading renewable energy companies with the energy and infrastructure arm of the UAE-based International Holding Company PJSC (IHC Group).

Joint Venture Structure and Ownership

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.

Minerva Holding RSC, which is wholly owned by EPointZero, will be part of this joint venture structure.

Under the terms of the agreement, AGEL UAE will acquire up to a 20 percent stake in the joint venture entity, Minerva Renewables Holding RSC. The joint venture will focus on building and managing clean energy projects across the country.

Corporate Governance and Board Representation

The agreement includes specific provisions for board representation that reflect the partnership structure. 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 arrangement establishes clear governance protocols for the joint venture operations.

Financial Backing and Scale

IHC Group, the parent entity of EPointZero, is among the largest listed companies in the UAE, with a market capitalization exceeding USD 230 billion. This substantial financial backing reflects the scale and resources behind the partnership, providing significant support for the renewable energy development initiatives planned under the joint venture.

Strategic Context and Market Position

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.

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, 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.

The filing indicated that the joint venture will focus on building and managing clean energy projects across the country.

The agreement includes provisions for equity participation and board representation, establishing a framework for the collaborative development of renewable energy infrastructure in India.

This partnership represents a significant cross-border investment in India's clean energy sector, bringing together Indian renewable energy expertise with UAE-based financial resources and infrastructure capabilities.

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