TotalEnergies SE said it could sell a small part of its 20% stake in Adani Green Energy Ltd. to cash in on the jump in the valuation of the Indian renewable energy producer.
The French energy giant bought 20% of Adani Green in 2021 for $2 billion, building on a series of previous deals with Indian billionaire Gautam Adani. That stake was worth about $10 billion at the end of August, according to TotalEnergies.
Patrick Pouyanne, the chief executive officer of TotalEnergies, said in response to a question during an investor presentation on Wednesday that the appreciation in value is “a source of potential cash.”
