Adani Green Energy Limited, India’s largest renewable energy firm and TotalEnergies have formed a strategic joint venture (JV) to manage a portfolio of solar projects totalling 1,150 MW. The projects are situated in the world’s largest renewable energy facility in Khavda, Gujarat. AGEL will contribute its present assets to the new JV, while TotalEnergies plans to infuse USD 444 million to speed up the development of these projects.
In the exchange filing, the company shared that this investment demonstrates AGEL and TotalEnergies’ commitment to strengthening partnerships, which aligns with their shared goal of accelerating India’s transition to renewable energy. “It is a testament of AGEL’s proven capabilities in delivering green energy at unprecedented speed and scale. The electricity generated from the 1,150 MW solar projects will be sold through Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI), and through sales on the wholesale market,” the statement further reads.
