Adani Green Energy, TotalEnergies finalize renewable energy in India
Adani Green Energy Limited (AGEL) today marked a significant milestone in renewable energy by announcing the completion of its 1,050 megawatt (MW) joint venture (JV) with TotalEnergies. In a strategic move, TotalEnergies invested USD 300 million in an AGEL subsidiary, acquiring a 50% stake in a diverse range of renewable energy projects.
Details of the Joint Venture
This landmark JV, initially announced in September 2023, encompasses a 1,050 MW portfolio that includes operational (300 MW), under construction (500 MW), and under-development assets (250 MW). The portfolio represents a mix of solar and wind power projects across India, demonstrating a strong commitment to renewable energy development.
Adani Green Energy advances sustainable power with TotalEnergies partnership
Strengthening the Strategic Alliance
Through this transaction, TotalEnergies has reinforced its strategic alliance with AGEL, supporting AGEL’s ambitious target of achieving a 45 GW capacity by 2030. The JV is a testament to both companies’ dedication to accelerating the transition to clean energy.
AGEL’s Contribution and TotalEnergies’ Investment
AGEL contributed a mix of operational, under construction, and under-development assets totaling 1,050 MW to the JV. In return, TotalEnergies made a significant equity investment of USD 300 million, underlining its confidence in the partnership and the future of renewable energy in India.
AGEL’s Role in India’s Clean Energy Transition
AGEL, India’s largest renewable energy solutions partner, plays a pivotal role in the country’s clean energy transition. The company develops, owns, and operates utility-scale grid-connected solar, wind, and hybrid renewable power plants. With an operating renewable portfolio of 8.4 GW spread across 12 states, AGEL is the largest renewable energy developer in India. The company has offset over 41 million tonnes of CO2 emissions cumulatively and is committed to achieving a 45 GW renewable energy capacity by 2030, aligning with India’s decarbonization goals.
The Future of Sustainable Power in India
This JV between AGEL and TotalEnergies marks a significant step forward in India’s renewable energy sector. It symbolizes the collaborative efforts of major energy companies to advance sustainable power generation, contributing to the country’s long-term energy security and environmental sustainability.
About Adani Green Energy Limited (AGEL)
AGEL leads the way in India’s renewable energy sector, with a focus on creating a sustainable and greener future. The company’s commitment to expanding its renewable energy capacity is crucial for meeting India’s growing energy needs while reducing carbon emissions. AGEL’s collaboration with global partners like TotalEnergies further strengthens its ability to deliver innovative and efficient renewable energy solutions.