Adani Green Raises $300 Million in Joint Venture with TotalEnergies
New Delhi: Adani Green has successfully raised $300 million through its joint venture project with French energy major TotalEnergies, the company announced on Wednesday. The venture involves a 1,050 MW renewable portfolio.
TotalEnergies has invested $300 million in Adani Green Energies Limited (AGEL) subsidiary, acquiring a 50% stake in the projects. This investment will support Adani Green in achieving its target of 45 GW capacity by 2030.
The joint venture encompasses a portfolio of 1,050 MW, including operational assets of 300 MW, assets under construction of 500 MW, and assets under development of 250 MW. These projects consist of a combination of solar and wind power initiatives in India.
TotalEnergies’ investment strengthens its strategic alliance with AGEL and reinforces its commitment to supporting AGEL’s goal of 45 GW capacity by 2030.
The binding agreement between the two companies was initially announced in September.
Adani Green, the largest renewable energy developer in the country, plays a crucial role in facilitating the transition to clean energy. Currently, it operates a renewable portfolio of 8.4 GW across 12 states in India.
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Adani Green Energy Ltd, a leading renewable energy company in India, has raised $300 million through a joint venture with TotalEnergies, a global energy player. The joint venture aims to accelerate the development of solar power projects in India, contributing to the country’s ambitious renewable energy goals. Adani Green will hold a majority stake of 51% in the venture, while TotalEnergies will own the remaining 49%. This collaboration will help drive the expansion of renewable energy infrastructure, reduce carbon emissions, and support India’s transition to a sustainable and low-carbon future.
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