Adani Green, TotalEnergies Partner In $444 Mn JV

Adani Green Energy has approved a new partnership with TotalEnergies, allowing the French energy giant's affiliate to invest USD 444 million in a joint venture aimed at further supporting India’s renewable energy sector. 

The new partnership follows an earlier USD 300 million agreement between the two companies, focused on building renewable energy capacity in a nation where coal remains the primary energy source.

The joint venture will be equally owned by Adani Green Energy and TotalEnergies, will include a portfolio of 1,150 megawatts of solar energy, comprised of both operational and under-construction projects. While Adani Green did not disclose its financial commitments to the venture, it confirmed that both companies will hold a 50 per cent stake in the new entity.

This partnership is another step in the ongoing collaboration between Adani Green and TotalEnergies, with the latter’s affiliates already holding a nearly 20 per cent stake in Adani Green Energy.