Adani Green transfers 205 MW of solar assets to its Total JV

Adani Green Energy Limited has transferred 205 MW of solar assets to its joint-venture (JV) with Total SA for Rs 16.3 billion. In April 2020, the two companies formed a JV of a ratio 50:50 for solar assets worth 2.14 GW at an enterprise valuation of 17.3 billon with TOTAL SA investing Rs 3.1 billion for its stake in the new venture. The announcement will increase the JV’s renewable portfolio to 2.35 GW. The assets were first acquired from Essel Group for a figure of about Rs 13 billion. These represent projects that are located in Punjab, Karnataka and Uttar Pradesh. All projects are under long term power purchase agreements with a remaining life of around 21 years.

Adani Green Energy, the renewable energy arm of Adani Group, has expanded its presence across 11 Indian states, with a portfolio of 54 operational projects and 12 projects under construction. The company has about 15 GW of operational, under-construction and awarded wind and solar parks. As per a recent report by the Mercom Capital Group, AGEL is currently the top global solar developer with 2.3 GW of operational projects, 2 GW under construction, and 8 GW of awarded projects, making up a total capacity of 12.3 GW. The company aims to achieve an RE capacity of 25 GW by 2025.


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