Total SE of France has decided to acquire 20 per cent minority interest in Adani Green Energy (AGEL) and half the ownership in operative solar assets for $2.5 billion. As part of the current deal, Total will pick up a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $2.5 billion, said an AGEL statement.
It said the investment in AGEL is another step in the strategic alliance between Adani Group and Total across various businesses and companies of the Adani Group, covering investments in liquefied natural gas terminals, gas utility business, and renewable assets across India. As of September, the promoter group held 74.92 per cent stake in Adani Green.
