Adani Green Energy Limited (AGEL) has revealed the successful conclusion of the transfer of its 1,050 MW renewable energy portfolio to a joint venture (JV) with TotalEnergies. AGEL’s 1,050 MW portfolio was purchased by TotalEnergies for $300 million as part of the JV.
This comes after the formal commitment regarding the JV, which AGEL and TotalEnergies disclosed in September 2023. The collaborative venture encompasses the 1,050 MW portfolio, consisting of a 300 MW combination of operational, 500 MW under-construction, and 250 MW under-development assets, involving a mix of solar and wind power projects across India. Through this transaction, TotalEnergies has strengthened its strategic partnership with AGEL and has demonstrated its commitment to assisting AGEL in achieving its goal of reaching a capacity of 45 GW by 2030.
Recently, in December 2023, AGEL executed power purchase agreement with the Solar Energy Corporation of India to deliver solar power of capacity 1,799 MW.
In the same month, AGEL revealed additional funding of $1.36 billion to enhance its construction financing framework to $3 billion.
