TotalEnergies to Invest $300 Million in Adani Green Energy,

TotalEnergies, the French multinational energy giant, has announced a substantial investment of $300 million in a joint venture (JV) with Adani Green Energy, a prominent player in India's thriving renewable energy sector. This strategic alliance underscores the commitment of both companies to expanding their presence in the renewable energy domain and advancing India's renewable energy goals.

The newly formed joint venture, named "Adani Green Energy Twenty-Three," is to play a pivotal role in India's clean energy landscape. It will focus primarily on renewable energy projects, with a strong emphasis on solar and wind power initiatives. The total capacity of this joint venture is expected to reach an impressive 1,050 megawatts (MW), a significant contribution to India's growing clean energy infrastructure.

TotalEnergies' engagement in this venture extends beyond financial investment, as the company already holds a substantial stake of approximately 20% in Adani Green Energy. This noteworthy ownership stake reflects TotalEnergies' unwavering confidence in the capabilities of its Indian partner and its optimistic outlook on the prospects of renewable energy growth in the region. It also highlights the enduring partnership and shared vision for a more environmentally conscious future.

The joint venture will play a vital role in helping Adani Green Energy achieve its ambitious target of attaining 45 gigawatts (GW) of renewable energy capacity by 2030. This will involve the strategic contribution of assets by Adani Green Energy to the newly formed venture, strengthening the partnership's capabilities and resources.

As TotalEnergies and Adani Green Energy embark on this collaborative venture, it marks a significant stride towards a more sustainable and eco-friendly energy landscape, not only in India but also on a global scale. Their partnership serves as a beacon in the transition to cleaner energy sources and the collective fight against climate change.