Adani Green, TotalEnergies sign $444m joint venture agreement

This will house a 1,150 MWac portfolio.

Adani Green has approved the execution of binding documents, which includes a joint venture (JV) agreement that will allow TotalEnergies Renewables Singapore Pte Limited to invest $444m to form a new JV company with the Indian company. 

In a bourse filing, the company said the deal will involve Adani Green, Adani Renewable Energy Sixty Four Limited, and TotalEnergies. Adani Green and TotalEnergies will each hold 50% of the company to be formed. 

The JV company will manage a portfolio of solar projects totaling 1,150 megawatts located in Khavda, Gujarat. This will comprise a mix of operational and under execution solar assets, with a blend of both merchant based and power purchase agreement based projects.

Adani Green said transaction details are under discussion and subject to customary approvals and conditions.