Adani Green Energy (AGEL) finalized the establishment of a 1,050 MW joint venture with TotalEnergies on Wednesday.
TotalEnergies injected $300 million into an AGEL subsidiary, securing a 50 percent stake in the projects as part of the JV agreement, which was initially disclosed in September 2023.
The venture incorporates a diversified 1,050 MW portfolio comprising operational (300 MW), under-construction (500 MW), and under-development assets (250 MW), encompassing both solar and wind power projects across India.
This move further solidifies TotalEnergies’ strategic alignment with AGEL, lending support to AGEL’s ambitious target of achieving a capacity of 45 GW by 2030.
AGEL stands as India’s premier renewable energy solutions partner, actively contributing to the nation’s clean energy transition. The company specializes in the development, ownership, and operation of utility-scale solar, wind, and hybrid renewable power plants.
Presently, AGEL boasts an operational renewable portfolio spanning 8.4 GW across 12 states, holding the position as India’s largest renewable energy developer. Their efforts have successfully offset more than 41 million tonnes of CO2 emissions cumulatively. AGEL remains steadfast in its commitment to reaching the 45 GW renewable energy capacity target by 2030, aligning with India’s decarbonization objectives.
The company prioritizes technology adoption to drive down the Levelized Cost of Energy (LCOE), facilitating the widespread adoption of economically viable clean energy solutions.