Adani Green, TotalEnergies finalize 1,050 MW renewable energy JV; raises $300 million

With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030,” Adani Green said in a statement.

New Delhi: Adani Green Energy Limited (AGEL) and TotalEnergies have completed their joint venture (JV), a significant move adding 1,050 MW to India’s renewable energy capacity. The announcement comes following the binding agreement in September 2023, which saw TotalEnergies investing USD 300 million for a 50% stake in a subsidiary of AGEL.“With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030,” Adani Green said in a statement.

The JV portfolio, a mix of solar and wind projects, includes 300 MW of operational assets, 500 MW under construction, and 250 MW in the development phase, distributed across various locations in India. This development is a key part of AGEL’s strategy to reach a target capacity of 45 GW by 2030.

AGEL, leading the renewable energy sector in India, operates an 8.4 GW renewable portfolio across 12 states. The company’s initiatives have been pivotal in offsetting over 41 million tonnes of CO2 emissions.

TotalEnergies’ investment in the JV aligns with its strategy to expand its renewable energy footprint in the Indian market. AGEL’s operational practices, recognized for being water positive for plants over 200 MW, single-use plastic-free, and achieving zero waste-to-landfill, underscore its commitment to sustainable development.




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