Abu Dhabi-based conglomerate International Holding Company PJSC (IHC) will invest 7.3 billion dirhams ($2 billion) in three green-focused companies owned by Indian conglomerate Adani Group.

The investments in Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL) will be exercised via preferential allotments. All the companies are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India, IHC said on Friday.  

IHC will invest 1.83 billion dirhams in AGEL, 1.83 billion dirhams in ATL and 3.67 billion dirhams in AEL, in compliance with the Indian capital market regulator, Securities and Exchange Board of India, guidelines.

The transaction is expected to be completed in a month after all necessary approvals are obtained, IHC said in a bourse disclosure on Abu Dhabi Securities Exchange (ADX).

Syed Basar Shueb, CEO and managing director of IHC, said: "This will be a long-term investment in India as the country is driving much innovation globally, including the green energy sector. The opportunity to earn a compelling return on investment in green energy has never been greater."

IHC, with assets over 87 billion dirhams, is among the Abu Dhabi companies that driving the emirate’s economic diversification agenda.

Adani Group, led by Gautam Adani, has a range of businesses covering ports, power, renewable energy, airports, coal trading and data centers. The group has said it intends to invest $20 billion in renewable energy over the next 10 years and make its ports business a net-zero carbon emitter by 2025.

(Reporting by Brinda Darasha; editing by Seban Scaria)