Adani Green finalises 1,050 MW joint venture with TotalEnergies

TotalEnergies has invested $300m for the AGEL subsidiary, gaining a 50% stake.

Adani Green Energy Limited (AGEL) has completed its 1,050 MW strategic joint venture with TotalEnergies, with the latter acquiring a 50% stake in the projects.

Through the completion of the 1,050 MW renewable portfolio, TotalEnergies has contributed an equity investment of $300m for the projects.

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AGEL has also added a mix of operational 300 MW, along with 500 MW under construction and 250 MW of under-development assets, for a blend of solar and wind power projects in India.

The partnership between both energy entities emphasises the importance of a strategic alliance and an investment flow for a strong energy transition. In turn, the joint venture has supported AGEL’s target of 45 GW capacity by 2030.