French energy firm Total SA on Tuesday said it has invested Rs 3,707 crore to set up 50:50 joint venture with Adani Green Energy Ltd (AGEL) through its step-down subsidiary. The JV houses 2.148 GW operating solar projects across 11 states in India, the company said in a statement.
The portfolio includes the Restricted Group 1 & 2 projects, which had recently raised USD 862.5 million from the international bond markets, the statement said. Restricted Group 2 was the first Investment Grade rated issuance (rated BBB-/Baa3/BBB-) by a renewable business in India and was widely recognized by global capital markets and international publications, it added.
