TotalEnergies and Adani Green Energy Limited (AGEL) have agreed to form a new joint venture (JV). The JV will develop a solar portfolio in Khavda, Gujarat, with a capacity of 1,150 MW (1,575 MWp). The partnership will be equally owned by both companies. TotalEnergies has provided an equity investment of $444 million for the venture.
Power purchase agreements (PPAs) will be signed with Solar Energy Corporation of India (SECI) and the electricity generated from the joint venture will be sold through them. Energy generated will also be sold on the wholesale market.
In March 2024, AGEL had successfully initiated a total solar energy capacity of 1,000 MW at the Khavda Energy Park in Gujarat. In February 2024, they commissioned 551 MW of solar capacity delivering electricity to the national grid.
In April 2024, TotalEnergies announced the building of a new battery storage facility in Belgium, with operations slated to begin by the end of 2025.
