Adani Green Energy Limited, on 27 December, announced the completion of its 1,050 megawatt JV (joint venture) with TotalEnergies. As a part of the JV agreement, TotalEnergies invested $300 million in Adani Green Energy to acquire a 50% stake in the projects.

The agreement was initially announced by the Adani Group company in September 2023.

The JV houses the 1,050-megawatt portfolio that comprises a mix of already operational 300 megawatts projects, more than 500 megawatts of under-construction projects, and 250 megawatts of under-development assets that have a blend of both solar and wind power projects in the country.

TotalEnergies has reinforced its strategic alliance with Adani Green Energy and supported Adani Green’s target to reach 45 gigawatts through this alliance.

The company currently has an operating portfolio of 8.4 gigawatts that spans across 12 states and is currently one of the largest renewable energy developers in India.

The company offsets more than 41 million tonnes of CO2 emissions in total and is planning to reach 45 gigawatts of renewable energy capacity by 2030, which aligns with the nation’s decarbonization goals.

Adani Green is India’s largest renewable energy solution partner and plays a critical role in enabling the transition to clean energy. The company develops, owns, and operates utility-scale grid-connected solar, wind, and hybrid renewable power plants.