+
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)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code