Adani Green and TotalEnergies to form $444 million joint venture
POWER & RENEWABLE ENERGY

Adani Green and TotalEnergies to form $444 million joint venture

Adani Green Energy has entered into a binding agreement with TotalEnergies Renewables Singapore to establish a joint venture involving a $444 million investment, according to a company filing on September 2. The new entity will manage a 1,150 MWac (Mega-Watt Alternating Current) solar power portfolio, comprising both operational and under-construction assets. The projects will include a mix of merchant-based and power purchase agreement (PPA)-based ventures.

Adani Green Energy stated that both companies will equally share the equity of the joint venture, named ARE64L, with each holding a 50% stake. The final transaction details are currently under discussion, pending customary approvals and conditions.

Adani Green highlighted the company's significant progress in expanding its renewable energy capacity but emphasised the need for further growth to meet rising demand. The company has set ambitious goals, aiming to add 35 GW of solar capacity and 9 GW of wind capacity annually by 2030. This aligns with India’s target of achieving 500 GW of non-fossil power capacity by the same year.

(ET)

Adani Green Energy has entered into a binding agreement with TotalEnergies Renewables Singapore to establish a joint venture involving a $444 million investment, according to a company filing on September 2. The new entity will manage a 1,150 MWac (Mega-Watt Alternating Current) solar power portfolio, comprising both operational and under-construction assets. The projects will include a mix of merchant-based and power purchase agreement (PPA)-based ventures.Adani Green Energy stated that both companies will equally share the equity of the joint venture, named ARE64L, with each holding a 50% stake. The final transaction details are currently under discussion, pending customary approvals and conditions.Adani Green highlighted the company's significant progress in expanding its renewable energy capacity but emphasised the need for further growth to meet rising demand. The company has set ambitious goals, aiming to add 35 GW of solar capacity and 9 GW of wind capacity annually by 2030. This aligns with India’s target of achieving 500 GW of non-fossil power capacity by the same year.(ET)

Next Story
Infrastructure Urban

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Next Story
Infrastructure Urban

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Next Story
Infrastructure Urban

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement