Adani Green Energy signs 50-50 joint venture pact with TotalEnergies

Adani Green Energy Ltd (AGEL) on Thursday announced that it has completed signing a 50:50 joint venture (JV) with TotalEnergies, according to an exchange filing.

As part of the JV, TotalEnergies has invested USD 444 million in its subsidiary to acquire a 50 per cent stake in AGEL's solar projects located at the world's largest renewable energy plant in Khavda, Gujarat, the filing said.

"We would like to inform that the company has signed a Joint Venture Agreement with TotalEnergies Renewables Singapore Pte Ltd (TotalEnergies) and Adani Renewable Energy Sixty Four Ltd (ARE64L)," AGEL said in the filing.

AGEL and TotalEnergies own a 50:50 stake in ARE64L, which houses a 1,150 MWac (megawatt alternate current) project portfolio.