Joint Venture2 Sept 2024, 11:13 pm
Adani Green Energy to Form $444 Mn Joint Venture with TotalEnergies
AI Summary
Adani Green Energy Ltd. has approved the execution of binding documents with TotalEnergies Renewables Singapore Pte Limited to form a new 50:50 Joint Venture. TotalEnergies will invest approximately USD 444 Mn, which will be used to house a 1,150 MWac portfolio of operational and under execution solar assets. This portfolio will include both merchant based and PPA based projects.
Key Highlights
- Adani Green Energy Ltd. and TotalEnergies Renewables Singapore Pte Limited to form a new 50:50 Joint Venture.
- TotalEnergies to invest approximately USD 444 Mn in the new Joint Venture.
- The new Joint Venture will house a 1,150 MWac portfolio of operational and under execution solar assets.
- The portfolio will include both merchant based and PPA based projects.
- TotalEnergies already holds ~19.75% shareholding in Adani Green Energy through its affiliate entities.