AGEL, the joint venture, houses a 1,050-MW portfolio comprising a mix of an already operational capacity of 300 MW, under-construction capacity of 500 MW and under-development assets of 250 MW including both solar and wind projects in India

The 1,050 MW joint venture (JV) between Adani Green Energy Limited (AGEL) and TotalEnergies has been successfully closed, representing a major turning point in their strategic partnership. As part of the JV, TotalEnergies contributed USD 300 million to an AGEL subsidiary, gaining a 50 per cent ownership in the projects. According to a news statement issued by the Adani Group, the conclusion of this JV, which comes after the legally binding agreement declared in September 2023, strengthens the alliance between AGEL and TotalEnergies.

The joint venture comprises a portfolio of 1,050 MW, consisting of 300 MW of operational, 500 MW of under construction and 250 MW of under development assets. The portfolio includes wind and solar power projects located throughout India. Through this transaction, TotalEnergies is demonstrating its unwavering commitment to strengthening its strategic collaboration with AGEL and actively advancing AGEL’s audacious goal of reaching 45 GW of capacity by 2030.

Driving the sustainable energy transition is a key responsibility of AGEL, which is India’s largest partner for renewable energy solutions. AGEL has an operating renewable portfolio of 8.4 GW distributed over 12 states, consisting of utility-scale grid-connected solar, wind and hybrid power facilities. As a result, AGEL is now India’s biggest developer of renewable energy, having together offset more than 41 million tonnes of CO2.

AGEL continues to be dedicated to its aim of achieving 45 GW of renewable energy capacity by 2030, in line with India’s decarbonisation objectives. To lower the Levelised Cost of Energy (LCOE) and encourage the broad adoption of reasonably priced clean energy, the corporation gives priority to the development of new technologies. According to the statement, AGEL’s operating portfolio is distinguished by certifications such as “zero waste-to-landfill,” “single-use plastic-free,” and “water positive for plants of more than 200 MW capacity,” which attest to the company’s commitment to sustainable growth.