TOTAL France to acquire a 20 per cent stake in Adani Green Energy

Total France will acquire a 20 per cent stake in Adani Green Energy Limited (AGEL), for a global investment of $2.5 billion. Additionally, Total will acquire a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL. In February 2020, total and AGEL created a 50-50 JV at an enterprise value of Rs 173.85 billion, into which AGEL would transfer its operational solar assets. The total operating renewable energy portfolio under the JV stands at 2.3 GW. This is the second partnership between Total and an Adani Group company. In 2018, Total acquired a 37.4 per cent stake in Adani Gas Limited and a 50 per cent stake in Dhamra LNG project.