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Adani Green Energy and TotalEnergies Complete $300M Joint Venture for 1 GW Renewable Energy Portfolio in India

ESGAdani Green Energy and TotalEnergies Complete $300M Joint Venture for 1 GW Renewable Energy Portfolio in India

India-based renewable energy developer and operator Adani Green Energy Limited (AGEL) has completed a joint venture with French energy giant TotalEnergies, involving a $300 million investment by TotalEnergies for a 50% stake in a portfolio of more than 1 GW of solar and wind projects. The joint venture, initially announced in September 2023, aligns with India’s efforts to scale up investments in renewable energy, driven by the government’s 2030 climate commitments. The portfolio includes 300 MW already in operation, 500 MW under construction, and 250 MW of under-development assets. This collaboration follows previous partnerships between the companies, including TotalEnergies’ acquisition of a 20% stake in AGEL in 2021 and an initial joint venture in 2020 for operating 3 GW of solar power. TotalEnergies also acquired a 25% stake in AGEL’s parent company, Adani New Industries Ltd (ANIL), in 2022.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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