Adani Green Energy Signs JV Agreement With Minerva To Develop Renewable Projects In India

Ahmedabad: Adani Green is expanding its global partnerships footprint, teaming up with a UAE-backed player to accelerate renewable energy development in India’s fast-growing clean power market.

Adani Green Energy Limited confirmed that its subsidiary, Adani Renewable Energy Middle East Ltd, has signed a joint venture agreement with Minerva Holding RSC Ltd. The agreement, executed late on April 8, 2026, sets up a new entity, Minerva Renewables Holding RSC Limited, to focus on renewable energy projects in India.

The subsidiary plans to invest for up to 20 percent equity stake in the joint venture company, signaling a strategic but measured capital commitment. This move aligns with Adani Green’s broader push to scale its renewable portfolio through partnerships.

The joint venture brings together Adani Green’s international arm and Minerva, which is wholly owned by EPointZero Holding RSC Ltd. EPointZero itself is part of International Holding Company PJSC, a major UAE-listed firm with a market capitalization exceeding 230 billion US dollars.

Both partners will hold equity in the new entity, although neither party holds shares in each other’s existing businesses. The structure keeps ownership clearly defined while enabling collaboration on project development, construction, and operations.

Under the agreement, Minerva will have the right to appoint up to four directors to the joint venture board, while Adani Green will appoint one director. The board will oversee strategy and supervision of the joint venture and its subsidiaries. This governance split suggests operational control will lean toward Minerva, while Adani contributes technical expertise and market experience. The arrangement also reflects a partnership model where strategic oversight is shared but weighted.

The partnership is designed to tap into India’s growing renewable energy demand, with the joint venture focusing on developing and operating clean energy assets. The involvement of a large UAE-backed investor highlights rising cross-border interest in India’s energy transition.

For Adani Green, the deal strengthens its global capital access while maintaining focus on domestic project execution, reinforcing its position in the renewable energy sector. The joint venture marks another step in Adani Green’s strategy to scale through partnerships, combining international capital with local execution capabilities as India accelerates its renewable energy expansion.

Disclaimer: This article is based solely on the contents of the referenced corporate filing and does not include external information, analysis, or independent verification beyond the disclosed document.