Adani Green Raises $300 Million From Joint Venture With TotalEnergies

The transaction will help Adani Green achieve itstarget of 45 GW capacity by 2030 (representational)

New Delhi:

Adani Green has raised $300 million as it completed its joint venture project involving a 1,050 MW renewable portfolio with French energy major TotalEnergies, the company said in a statement on Wednesday.

TotalEnergies has invested $300 million in the Adani Green Energies Limited (AGEL) subsidiary for acquiring 50% stake in the projects.

The transaction will help Adani Green achieve its target of 45 GW capacity by 2030, the company said.

“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,” the statement said.

“With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030,” it added.

The two companies had announced the binding agreement in September.

Adani Green is the largest renewable energy developer in the country which plays a vital role in enabling the clean energy transition. It has an operating renewable portfolio of 8.4 GW spread across 12 states.

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