Adani Green completes 1,050 MW renewables transfer to TotalEnergies JV


Adani Green Energy Ltd (AGEL) today announced the completion of the transfer of 1,050 MW renewable portfolio to a joint venture with TotalEnergies. As part of the JV, TotalEnergies bought 50% stake in AGEL’s 1,050 MW portfolio for $300 million.

This follows the binding agreement about the JV announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW) and under development assets (250 MW) with a blend of both solar and wind power projects in India.

With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030.

AGEL develops, owns, and operates utility-scale grid-connected solar, wind, and hybrid renewable power plants. With an operating renewable portfolio of 8.4 GW spread across 12 states, it is currently the largest renewable energy developer in India, offsetting over 41 million tonnes of CO2 emissions cumulatively. AGEL targets to achieve 45 GW of renewable energy capacity by 2030, aligned with India’s decarbonization goals.

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