Saturday, August 2, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Investment

Approved: Adani-Total 2GW solar energy JV

Fiinews by Fiinews
April 2, 2020
in Investment, Projects
Reading Time: 3 mins read
A A
0
Total
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Total takes indirect 50% of JV for $500m

The Competition Commission of India (CCI) has approved formation of 50:50 Joint Venture between Adani Green Energy Limited and Total S.A. in the business of power generation through solar energy in India.

The proposed combination envisages Adani Green Energy Limited (AGEL) transferring certain of its subsidiaries to a newly incorporated company (JV), said CCI in a statement on 1 Apr 2020.

The transaction has a value of approximately $500 million and is in line with the Group’s objective of double-digit returns on renewable projects. It remains subject to the approval of the relevant authorities.

The Total-AGEL 50:50 joint venture will transfer AGEL’s 2 GW solar assets in operation spread over 11 Indian states.

Subsequently, Total S.A. would directly or indirectly acquire 50% of the equity share capital of the JV.

The acquisition is part of Total’s strategy to develop renewable energies and expand partnership with Adani Group, India’s largest privately-owned energy and infrastructure conglomerate, in order to contribute to the growth of solar power generation in the country.

The Indian government has a strong policy to support the renewable energy growth, noted Total in a Feb 2020 release. The country’s capacity should increase from its 81 gigawatts (GW) in 2019 to 225 GW by 2022.

All the projects benefit from nearly 25-year power purchase agreements (PPA) with national and regional electricity distributors, with a fixed rate.

“Total is fully engaged in the energy transition and to supporting India, a key country in the fight against climate change, in diversifying its energy mix through partnerships in natural gas and now in solar energy,” Patrick Pouyanné, Chairman & CEO of Total, had assured in the Feb 2020 release.

“This interest in over 2 GW of solar projects represents another big step of our investment in India’s energy sector. It will support our ambition to contribute to the deployment of 25 GW of renewable capacities by 2025.

“We are thrilled to extend the partnership with the Adani Group to renewable energies, which will allow us to benefit from its in-depth knowledge of the Indian electricity market,” he said.

AGEL is a listed company 74.92% owned by the Adani Group. As one of the leading private players in the Indian renewables market, AGEL currently holds a portfolio of 2,148 MW of installed solar capacity and 172 MW of installed wind capacity. They also have 475 MW of solar capacity and 1,505 MW of wind and 990 MW of hybrid under construction. Fiinews.com

Total integrates climate change into its strategy and is staying ahead of new energy market trends by building a portfolio of low-carbon businesses that could account for 15 to 20% of its sales by 2040.

Total’s gross low-carbon power generation capacity worldwide is currently close to 7 gigawatts, of which over 3 gigawatts from renewable energies.

With its 100,000 employees, Total is committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible.

Active in more than 130 countries, the French origin group’s ambition is to become the responsible energy major. fiinews.com

Tags: Adani Green Energy LtdThe Competition Commission of IndiaTotal S.A.
ShareTweetShare

Related Posts

Marcom
Projects

Project: Renewables wants Govt’s long-term vision

by Fiinews
August 1, 2025
0
15

Industry can grow by 10-20%, says Prabhu Mercom Capital Group CEO Raj Prabhu has urged the government to announce a...

Hdfc Capital
Projects

Project: DPIIT-HDFC to support PropTech sectors

by Fiinews
August 1, 2025
0
11

Key element of partnership is H@ART Programme The Department for Promotion of Industry and Internal Trade (DPIIT) signed a Memorandum...

Roche

Project: DPIIT-Roche to work on healthcare startups

August 1, 2025
15
PIB

Project: Frigate Himgiri delivered to Indian Navy

August 1, 2025
15
PIB

Project: India-UAE work on industrial partnerships

July 31, 2025
19
BP

Project: RIL-ONGC-BP explore GS-OSHP-2022/2

July 31, 2025
17
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Renewables wants Govt’s long-term vision
  • Project: DPIIT-HDFC to support PropTech sectors
  • Project: DPIIT-Roche to work on healthcare startups
  • Tender: Cabinet approves Rs.11,169cr rail projects
  • Project: Frigate Himgiri delivered to Indian Navy

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.