Adani Green Energy Forms Joint Venture with TotalEnergies, Securing $444 Million Investment in Solar Projects

Adani Green Energy Ltd (AGEL) announced on Thursday that it has finalized a 50:50 joint venture (JV) with TotalEnergies, as stated in an exchange filing. Under this partnership, TotalEnergies has invested USD 444 million in AGEL’s subsidiary to acquire a 50% stake in its solar projects located at the Khavda renewable energy plant in Gujarat, the largest of its kind globally. “We would like to inform that the company has signed a Joint Venture Agreement with TotalEnergies Renewables Singapore Pte Ltd (TotalEnergies) and Adani Renewable Energy Sixty Four Ltd (ARE64L),” AGEL mentioned in the filing. Both AGEL and TotalEnergies hold equal shares in ARE64L, which encompasses a project portfolio of 1,150 MWac (megawatt alternating current).