TotalEnergies invests $300m to Adani Green
This will support the joint venture that the companies will form.
Adani Green Energy Limited (AGEL) and Total Energies entered an agreement to form a joint venture they equally owned with a total portfolio of 1,050 megawatts (MW), with Total Energies investing $300m to the projects.
In a statement, AGEL said it will contribute the assets to the JV, whilst TotalEnergies will provide the equity investment.
The portfolio, comprised of solar and wind power, is composed of 300 MW capacity that is operational, 500 MW under construction, and 250 MW under development assets.
“We are delighted to extend our long-term partnership with TotalEnergies in AGEL. The investment will further strengthen the pivotal role played by AGEL in India’s glide path to decarbonization. This will help deliver our vision to have 45 GW renewable energy capacity by 2030,” Adani Group Chairman Gautam Adani said.