Adani Green Energy Limited (AGEL) and TotalEnergies have agreed to establish a new joint venture, equally owned by both companies, with a 1,050 MW portfolio. This portfolio will comprise a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both solar & wind power.
AGEL will contribute to the JV the assets and TotalEnergies an equity investment of 300 MUS$ which will further support their development.Thanks to this new transaction, TotalEnergies will reinforce its strategic alliance with AGEL and support the company in becoming the Indian leader of renewable energy, with a target of 45 GW renewable power capacity by 2030. The transaction’s completion will be contingent on meeting customary closing conditions, including obtaining regulatory approvals.
Adani Group Chairman, Mr. Gautam Adani, commented; “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.”
