Adani Green Energy Ltd informed the stock exchange in a regulatory filing on Thursday that its wholly-owned step down subsidiary, Adani Renewable Energy Middle East Ltd, has entered into a joint venture agreement with United Arab Emirates (UAE)-based Minerva Holding RSC to develop renewable energy projects in India.
As part of the agreement, Adani Renewable Energy Middle East Ltd will acquire up to 20 per cent stake in the UAE-based Minerva Renewables Holding RSC, the joint venture entity. The shareholding structure reflects a strategic minority participation by Adani Green Energy, while operational collaboration is expected to be driven jointly, according to the regulatory filing.
Adani Renewable Energy Middle East Ltd was incorporated on February 25, 2026 in the UAE. The company has positioned itself to participate in energy transition opportunities across the Middle East region.
With full ownership of the subsidiary, Adani Green, which has full ownership of Adani Renewable Energy Middle East Ltd, retains complete strategic and operational oversight over it, as the subsidiary evaluates renewable generation prospects in new geographies.
Minerva Holding RSC, which is wholly owned by EPointZero, will serve as the joint venture platform through which the renewable energy projects for India will be pursued. The joint venture is expected to play a role in advancing clean energy capacity in India, aligning with broader sectoral growth and investment momentum, according to the company statement.
According to the company statement, International Holding Company PJSC, the parent of EPointZero, is the largest listed company in the UAE, with a market capitalisation of more than USD 230 billion, underlining the scale and financial backing behind the joint venture partnership.
Governance provisions of the deal grant Minerva the right to appoint up to four directors on the board, while Adani Green Energy will have the right to nominate one director. This structure indicates a majority influence for the
UAE-based partner, alongside Adani’s participation in key decision-making.
The development comes as Adani Green Energy continues to expand its global partnerships and strengthen its pipeline of renewable energy projects, even as international investors show increasing interest in India’s clean energy sector.