Adani Green Energy and Total Energies Setup 50-50 Joint Venture – EQ
In Short : Adani Green Energy and TotalEnergies have established a 50-50 joint venture aimed at developing renewable energy projects in India. This collaboration will focus on expanding the capacity of solar and wind power installations, leveraging both companies’ expertise in the clean energy sector. The partnership aligns with India’s renewable energy goals and enhances efforts to reduce carbon emissions while promoting sustainable energy solutions.
In Detail : Adani Green Energy Ltd (AGEL) has signed a 50:50 joint venture (JV) agreement with TotalEnergies. This partnership aims to manage a portfolio of solar projects totaling 1,150 MW in Gujarat, India. TotalEnergies has invested USD 444 million for a 50% stake in the JV.
This collaboration underscores both companies’ commitment to accelerating India’s transition to clean energy. The projects are part of the world’s largest renewable energy plant being developed by AGEL in Khavda, Gujarat.
According to the exchange filing TotalEnergies has invested USD 444 million in its subsidiary to acquire a 50 per cent stake in AGEL’s solar projects located at the world’s largest renewable energy plant in Khavda, Gujarat.
“We would like to inform that the company has signed a Joint Venture Agreement with TotalEnergies Renewables Singapore Pte Ltd (TotalEnergies) and Adani Renewable Energy Sixty Four Ltd (ARE64L),” AGEL said in the filing.
Adani Renewable Energy Sixty Four Ltd (ARE64L) is a subsidiary of Adani Green Energy Ltd (AGEL). This joint venture will manage a portfolio of 1,150 MWac solar projects located in Khavda, Gujarat.
This collaboration is part of a broader effort to expand renewable energy capacity in India, leveraging both companies’ expertise to accelerate the transition to clean energy.
TotalEnergies and Adani Group have multiple joint ventures beyond their recent solar projects collaboration.
In 2018, TotalEnergies acquired a 37.4% stake in Adani Gas Limited, which was later renamed Adani Total Gas Limited. This JV focuses on city gas distribution and associated LNG terminal businesses.
TotalEnergies holds a 50% stake in the Dhamra LNG project, which includes the development of an LNG regasification terminal. This terminal is expected to start operations soon and aims to enhance India’s LNG infrastructure.
