Adani Green Energy and Total Energies Form Strategic Joint Venture

Adani Green Energy Limited (AGEL) and TotalEnergies, a global energy company, have announced a strategic joint venture (JV) to manage a portfolio of 1,150 MW of solar projects located at the world’s largest renewable energy plant in Khavda, Gujarat, India.

The JV, equally owned by both entities, will be formed by transferring AGEL’s existing solar assets to the new company. TotalEnergies will contribute USD 444 million to accelerate the development of these projects. This investment reflects the companies’ shared commitment to advancing India’s clean energy transition and solidifies AGEL’s position as a leading player in the renewable energy sector.

The electricity generated by the 1,150 MW solar projects will be sold through Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI) and on the wholesale market.

AG energy plant on a barren wasteland in Khavda, Gujarat, spanning an area five times the size of Paris. With an operational capacity of 2,250 MW, the plant is already generating solar and wind energy. Upon completion, the plant will supply affordable clean energy to over 16 million homes in India, create over 15,200 green jobs, and avoid the emission of approximately 58 million tons of CO2 annually.

The completion of the transaction is subject to customary closing conditions, including regulatory approvals. This partnership between AGEL and TotalEnergies marks a significant milestone in India’s journey towards a sustainable energy future.

About Adani Green Energy Limited

Adani Green Energy Limited (AGEL) is India’s largest and one of the leading renewable energy

companies in the world, enabling the clean energy transition. AGEL develops, owns, and operates

utility-scale grid-connected solar, wind, hybrid and hydro-pumped storage renewable power plants.

About Total Energies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and

biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000

employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.