Abu Dhabi – Mubasher: International Holding Company (IHC) has completed its investment worth AED 7.3 billion ($2 billion) in the portfolio companies of India-based Adani Group.

IHC will provide capital to Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), and Adani Enterprises Limited (AEL), which are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India, according to a press release on Tuesday.

The transaction will support Adani Group’s growth plan to supply India with 45 gigawatts (GW) by 2030.

IHC's investment was facilitated via First Abu Dhabi Bank (FAB) and Standard Chartered Bank, in coordination with the UAE-based Norton Rose, India's AZB Partners, and WTS Dhruva.

The CEO and Managing Director of IHC, Syed Basar Shueb, said: "The deal represents 4.87% of the total trade between the UAE and India, which has reached $41 billion between 2020 and 2021; the partnership between IHC and Adani Group greatly reflects the economic ties between the UAE and India beyond the oil sector. "

Meanwhile, the Executive Director of Adani Green Energy, Sagar Adani, commented: "We share IHC’s strategic vision for India, Middle East and Africa as we embark on this inter-generational relationship."