Major renewable energy deal: Adani Green and TotalEnergies forge 1.15GW solar power partnership in Gujarat

Adani Green Energy Limited (AGEL), India’s largest and one of the most ambitious renewable energy companies, has announced a landmark strategic joint venture (JV) with French energy giant TotalEnergies. This significant partnership is poised to manage an extensive portfolio of solar power projects totaling 1,150 megawatts (MW). The JV, which will be equally owned by both AGEL and TotalEnergies, aims to harness the full potential of solar energy at one of the world’s largest renewable energy installations.

The solar projects will be located at the Khavda renewable energy plant in Gujarat, which stands as a testament to the scale and ambition of renewable energy development. The Khavda site is already known for its vast expanse, covering an area of 538 square kilometers—roughly five times the size of Paris. This facility has become a global benchmark in the renewable energy sector due to its sheer size and the scale of its operations.

Under this new partnership, AGEL will contribute its existing solar assets to the JV. In turn, TotalEnergies will make a substantial investment of USD 444 million. This infusion of capital is aimed at accelerating the development and deployment of these solar projects, reflecting both companies’ commitment to expediting India’s transition to cleaner energy sources.

The electricity generated from these 1,150 MW solar projects will be sold through Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI), a key player in India’s solar energy sector. Additionally, a portion of the electricity will be sold on the wholesale market, providing flexibility and potentially enhancing the financial viability of the projects.

The Khavda plant, which AGEL is developing, is already operational with a cumulative capacity of 2,250 MW in solar and wind energy. Once fully operational, the plant is expected to supply clean, affordable energy to over 16 million homes across India. Furthermore, it will create over 15,200 green jobs and contribute significantly to environmental sustainability by reducing approximately 58 million tons of CO2 emissions annually.

This strategic venture underscores a broader trend in the energy sector where global partnerships are increasingly focused on scaling up renewable energy projects to meet ambitious climate goals. Both AGEL and TotalEnergies are positioning themselves at the forefront of this transition, leveraging their combined expertise and resources to drive significant advancements in clean energy.

The completion of this strategic joint venture is contingent upon customary closing conditions, including regulatory approvals. This phase will determine the final structure and operational parameters of the JV, setting the stage for a transformative impact on India’s renewable energy landscape.

The collaboration between Adani Green Energy Limited and TotalEnergies not only represents a major investment in solar energy but also signals a strong commitment to supporting India’s energy transition goals. As the world grapples with climate change, such partnerships are critical in driving forward sustainable solutions and setting new benchmarks for the renewable energy sector.