Emeren to go private under Shurya Vitra merger agreement

US-headquartered Emeren Group Ltd, a global solar project developer, owner, and operator, has signed a definitive merger agreement with Shurya Vitra Ltd. Emeren will join with Emeren Holdings Ltd and become fully owned by Shurya Vitra Ltd. Shareholders will get $0.20 for each ordinary share or $2.00 for each ADS (one ADS equals ten shares). After this, Emeren’s shares will be removed from the New York Stock Exchange. The merger was approved by Emeren’s board and a special committee of independent directors. Himanshu H. Shah has provided an equity commitment to fund the transaction.The deal still depends on shareholder approval and other standard requirements being completed. The merger is expected to close in the third quarter of 2025. Once completed, Emeren will operate as a private company. The planned going-private transaction follows Emeren Group's recent sale of its 17 MW solar portfolio in Poland.