 "Total SA enters into a joint venture with Adani Green, invests Rs 3,707 cr")
French multinational energy major Total SA has entered into a joint venture with Adani Green Energy Limited (AGEL), the renewable energy company of the Adani Group. Total has invested Rs 3,707 crore for a 50 per cent partnership in the joint venture company.
AGEL in a public statement said the joint venture has 2 GW of operating solar projects operating across 11 states in India.
It said the portfolio also includes the Restricted Group 1 & 2 projects, which had recently raised USD 862.5 million from the international bond markets. Restricted Group 2 was the first Investment Grade rated issuance (rated BBB-/Baa3/BBB-) by a renewable business in India and was widely recognised by global capital markets and international publications, said AGEL.
"AGEL is on track to achieve 25 GW by 2025. With this, AGEL also targets to become the largest solar player in the world by 2025 and the largest renewable player in the world by 2030," the company said in a statement.
Adani Group recently announced that it will invest over 70 per cent of its budgeted capex into clean energy and energy-efficient systems.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%