TotalEnergies has increased its stake in Total Eren from 30% to 100%, a transaction that values the independent power producer at €3.5 billion ($3.8 billion).
The project, currently under construction in Rajasthan, was won by the developer in a Solar Energy Corporation of India (SECI) auction.
The generation capacity – three 450 MWp projects in Rajasthan – is expected to be commissioned towards early 2022.
While the stake sale in solar portfolio will allow Adani to carry out its contracted pipeline efficiently, it could also mean commercial & industrial (C&I) rooftop as a growth opportunity for both the companies—according to Wood Mackenzie analysts.
The deals will pave the way for four new solar parks that are set to be commissioned towards the end of next year.
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