Adani Green Completes the 1,050 MW JV With TotalEnergies, Raises $300 Mn

• Adani Green Energy Limited (AGEL) completed the transfer of 1,050 MW renewable portfolio to a JV between AGEL and TotalEnergies
• AGEL contributed the mix of operational (300 MW), under construction (500 MW) and under development assets (250 MW) and TotalEnergies has made equity investment of USD 300 million

Adani Green Energy Limited (AGEL) today 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% stake in the projects.

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.

Earlier this week, AGEL announced the execution of power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power. With the signing of this balance PPA, AGEL completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender awarded to it by SECI in June 2020, which set a record for being the world’s largest solar tender.

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