Adani Green Energy recently informed the exchanges that the company’s Board of Directors had approved the execution of binding documents, documents, including the joint venture agreement, between Adani Renewable Energy Sixty Four Limited (“ARE64L”) and TotalEnergies Renewables Singapore Pte Limited (“TotalEnergies”). Under the terms of the agreement, TotalEnergies will make further investments (either directly or through its affiliates) of approx USD 444 Mn to form a new 50:50 Joint Venture Company with the Company.
In the exchange filing, the company also shared, “The new Joint Venture Company will house a 1,150 MWac portfolio, which will comprise of mix of operational and under execution solar assets, with a blend of both merchant based and PPA based projects. ”
In the meantime, Adani Green Energy shares were trading 5.27% higher at Rs 1,935.00 on the NSE.
