Adani Green Energy Completes JV With TotalEnergies, Raises US Dollar 300 Million

Adani Green Energy Completes JV With TotalEnergies, Raises US Dollar 300 Million

The shares of Adani Green Energy Limited on Wednesday at 9:30 am IST were trading at Rs 1,630.20, up by 1.87 per cent.

FPJ Web DeskUpdated: Wednesday, December 27, 2023, 09:35 AM IST
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Adani Green Energy Completes JV With TotalEnergies, Raises US Dollar 300 Million | Representative Image

Adani Green Energy Limited (AGEL) on Wednesday 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, for acquiring 50 per cent stake in the projects, the company announced through an exchange filing.

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.

Adani Green Energy Limited shares

The shares of Adani Green Energy Limited on Wednesday at 9:30 am IST were trading at Rs 1,630.20, up by 1.87 per cent.

About Adani Green Energy Ltd

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 gridconnected 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.

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