France’s Total Energies to invest $300 mn to form JV with Adani Green

Adani Green Energy, part of the Gautam Adani-led group, on Wednesday announced a new joint venture (JV) with France’s TotalEnergies to house a 1,050-megawatt (Mw) green portfolio. The French energy giant would invest $300 million in this 50:50 JV.

While this is the third instance of TotalEnergies investing in or partnering with Adani Green, it is the first since the release of a report by US short-seller Hindenburg Research in January accusing the Adani group of corporate misconduct.

In an announcement to exchanges, Adani Green stated that its board had approved the execution of a binding term sheet with Adani Green Energy Twenty Three Limited (AGE23L) and TotalEnergies.