French energy giant TotalEnergies has invested USD 300 million in a renewable energy joint venture with Adani Green Energy Ltd.
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In a statement, AGEL said it completed “1,050 MW joint venture (JV) with TotalEnergies.
As part of the JV, TotalEnergies invested USD 300 million in AGEL subsidiary, for acquiring 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 and wind power projects in India.
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“Wth this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030.” It added.
