NEW DELHI: France’s TotalEnergies will invest $300 million in a new venture with Adani Green Energy Limited (AGEL), a renewable energy platform of Adani Group. AGEL, in an exchange filing, has announced it has entered a binding agreement with TotalEnergies to create a joint venture, equally owned by both companies, with a 1,050 MW portfolio.
This portfolio will comprise a mix of already operational (300 MW), under construction (500 MW), and underdevelopment assets (250 MW), with a blend of solar and wind power. As per the company, AGEL will contribute its assets to the joint venture, and TotalEnergies will provide an equity investment of $300 million to support their development.
