Adani Green Energy Limited (AGEL) and TotalEnergies have entered into a binding agreement to create a new JV, equally owned by TotalEnergies and AGEL, 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 Total Energies an equity investment of 300 MUS$ which will further support their development.
TotalEnergies will strengthen its strategic alliance with AGEL, aiming to become the Indian leader in renewable energy with a goal of 45 GW of capacity by 2030. The completion of the transaction shall be upon satisfaction of customary closing conditions including the receipt of certain 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.”
