Adani and TotalEnergies team up for solar projects

AHMEDABAD, September 3, 2024 – Adani Green Energy Limited (AGEL), India’s largest renewable energy company, and TotalEnergies will form a 50-50 joint venture to manage a portfolio of solar projects totalling 1,150 MW, AGEL announced on Tuesday.

AGEL will contribute its current assets to the new joint venture, while TotalEnergies will inject USD 444 million towards the development of the planned projects. The electricity generated will be sold on the wholesale market and through power purchase agreements with Solar Corporation of India.

The projects will be located at AGEL’s renewable energy complex under development in Khavda, Gujarat, in a 538-square-kilometre area that already houses wind and solar projects for a cumulative generation capacity of 2,250 MW. When complete, the complex will supply clean energy to an estimated 16 million households in India.

Majority-owned by the Adani family (56.4%) and TotalEnergies (19.7%), AGEL develops, owns, and operates utility-scale grid-connected solar, wind, hybrid and hydro-pumped storage renewable power plants. The company currently has a portfolio of renewable generation assets with a combined generation capacity of 11.2 GW, the largest in India, in locations across 12 states.

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