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Adani Green Energy on Thursday announced the incorporation of two step-down subsidiaries, Adani Renewable Energy Fifty One Ltd and Adani Renewable Energy Fifty Five Ltd.

Adani Saur Urja (KA) Ltd, a wholly-owned subsidiary of the company, has incorporated its wholly-owned subsidiary, namely, Adani Renewable Energy Fifty One Ltd (ARE51L), on December 13, 2023, a BSE filing stated.

Adani Renewable Energy Holding Nine Ltd, a wholly-owned subsidiary of the company, has incorporated its wholly-owned subsidiary, namely, Adani Renewable Energy Fifty Five Limited (ARE55L), on December 13, 2023, the filing said.

Both step-down subsidiaries have authorised as well as paid share capital of Rs one lakh each.

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The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, and supply any kind of power or electrical energy using wind energy, solar energy, or other renewable sources of energy.

New subsidiaries are incorporated in India and registered with the Registrar of Companies, Gujarat, in Ahmedabad on Wednesday, 2023, and are yet to commence their business operations.