TotalEnergies becomes angel for Adani Green Energy, agreement signed between the two firms
This morning a new update has come regarding Adani Green Energy, a subsidiary of Adani Group. An agreement was signed between French energy giant Total Energies and Adani Green Energy for a joint venture in the energy project. Following this agreement, TotalEnergies invested US$00 million in the energy project. Let us know in detail in this report.
Adani Group had said on Tuesday that Gautam Adani and his family will invest Rs 9350 crore in Adani Green Energy. A new update has come today regarding Adani Green Energy. In fact, French energy giant Total Energies had signed a joint venture agreement with Adani Green Energy Ltd. After this agreement, TotalEnergies has now invested US $ 300 million in Adani Green Energy. This investment was made to expand the joint venture.
AGEL had said in a statement that they have completed a 1,050 MW joint venture (JV) with TotalEnergies. Now TotalEnergies has invested US$ 300 million in AGEL's subsidiary as part of the company's JV (Joint Venture). TotalEnergies has acquired 50 per cent stake in the joint venture project of AGEN.
The company had started a joint venture project with AGEN. The project has a portfolio of 1,050 MW comprising a mix of both solar and wind power projects in India with a mix of already operational (300 MW), under construction (500 MW) and under development assets (250 MW).
AGEL also said that with this transaction, TotalEnergies strengthens its strategic alliance with us and helps enable AGEL's target of 45 GW capacity by 2030.
At the time of writing the news, the stock price of Adani Green Energy was trading at Rs 1621.15 per share with a rise of 21.80 points.
