TOTAL France to acquire 20% stake in Adani Green Energy for $2.5 bn

As part of the current deal, TOTAL will pick up a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $2.5 bn

Global energy major Total will pick up a 20 per cent stake in Adani Green Energy Ltd (AGEL), the renewable power company of the Adani group, by way of acquiring shares held by the promoter group.

Along with the minority stake, the French firm will acquire 50 per cent in a 2.35-gigawatt portfolio of operating solar assets owned by AGEL in a deal worth $2.5 billion (about Rs 18,000 crore), said a statement by AGEL. Total will also have a seat on the AGEL board.

This is the third partnership between Total and the Adani group. In 2019, Total had acquired 37.4