“Adani Green Secures $300 Million Investment in Joint Venture with TotalEnergies for Renewable Energy Expansion”
Adani Green Energies Limited (AGEL) has successfully raised $300 million following the completion of its collaborative venture with French energy giant TotalEnergies. The venture involves a substantial 1,050 MW renewable portfolio, as confirmed by a statement released by Adani Green on Wednesday.
Adani Green Energies Limited (AGEL) has successfully raised $300 million following the completion of its collaborative venture with French energy giant TotalEnergies. The venture involves a substantial 1,050 MW renewable portfolio, as confirmed by a statement released by Adani Green on Wednesday.
TotalEnergies has committed a $300 million investment in AGEL’s subsidiary, acquiring a significant 50% stake in the renewable energy projects. This strategic transaction marks a pivotal step for Adani Green, aligning with its ambitious goal of achieving a 45 GW capacity by 2030.
The joint venture comprises a diverse portfolio of 1,050 MW, encompassing operational (300 MW), under-construction (500 MW), and assets in the developmental phase (250 MW). This collection includes a mix of solar and wind power projects situated across India, showcasing the company’s commitment to both solar and wind energy.
“This JV showcases a 1,050 MW portfolio comprising existing operational, under construction, and under development assets, emphasizing solar and wind power projects in India,” affirmed the company statement.
TotalEnergies, through this substantial investment, reaffirms its strategic partnership with AGEL, reinforcing its support in empowering AGEL’s mission to achieve a 45 GW capacity by 2030, facilitating India’s renewable energy aspirations.
The collaboration between the two entities was initially announced in September, culminating in this significant milestone that emphasizes TotalEnergies’ commitment to advancing clean energy initiatives.
Adani Green stands as the country’s premier renewable energy developer, playing a pivotal role in accelerating the transition to clean energy. The company currently operates a substantial renewable portfolio of 8.4 GW across 12 states, highlighting its significant contribution to India’s sustainable energy landscape.
This joint venture and investment signify a substantial leap forward for Adani Green, solidifying its position as a key player in the renewable energy sector, and amplifying efforts toward a sustainable energy future.
Sources By Agencies
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