French energy major Total Gas & Power Business Services will invest $510 million to acquire a 50 per cent stake in Adani’s solar business, thereby giving a push to its renewable energy portfolio.
As part of the deal, a joint venture company will house 2,148 MW of operating solar projects which are now 100 per cent owned by Adani Green Energy Ltd (AGEL). The balance 50 per cent stake in the JV will be held by AGEL.
The solar portfolio is spread across 11 States in India. This development follows a deal in October wherein Total acquired a 37.4 per cent stake in Adani Gas for ₹5,700 crore.
