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Adani Green in JV with TotalEnergies, raises USD 300 Mn

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Adani Green Energy Limited (AGEL) which is investing in Sri Lanka’s solar energy sector in the North yesterday announced the completion of the 1,050 MW joint venture (JV) with TotalEnergies.

As part of the JV, TotalEnergies invested USD 300 million in AGEL subsidiary, to acquire 50% stake in the projects. This follows the binding agreement about the JV announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both solar & wind power projects in India.

With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030. AGEL is India’s largest renewable energy solutions partner, playing a vital role in enabling the clean energy transition. The company develops, owns, and operates utility-scale grid-connected solar, wind, and hybrid renewable power plants. With an operating renewable portfolio of 8.4 GW spread across 12 states, AGEL is currently the largest renewable energy developer in India, offsetting over 41 million tonnes of CO2 emissions cumulatively.

AGEL is committed to its target of achieving 45 GW of renewable energy capacity by 2030, aligned with India’s decarbonization goals.

The post Adani Green in JV with TotalEnergies, raises USD 300 Mn appeared first on DailyNews.

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