Adani Green completes JV with TotalEnergies, raises $300m

Adani Green Energy Limited (AGEL) announced completing the 1,050 MW joint venture (JV) with TotalEnergies.

As part of the JV, TotalEnergies invested USD 300 million in the AGEL subsidiary to acquire a 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 supported enabling AGEL’s target of 45 GW capacity by 2030.

AGEL is India’s largest renewable energy solutions partner, vital in enabling the transition to clean energy.

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,