Adani Green on Wednesday said that its Board of Directors has approved the execution of a binding term sheet with TotalEnergies SE, pursuant to which Total will invest $300 million to form a new 50:50 Joint Venture Company. “We hereby inform that the Board of Directors of Company has in its meeting held on September 20, 2023 approved the execution of a binding termsheet to be entered into between the Company, Adani Green Energy Twenty Three Limited (AGE23L) and TotalEnergies SE (Total) pursuant to which, inter alia, Total will make further investment (either directly or through its affiliates) of USD 300 Mn to form a new 50:50 Joint Venture Company with the Company and modify certain terms of its investment in AGE23L,” the company said in a regulatory filing.
