"TotalEnergies to Invest $444 Million in New Joint Venture with Adani Green"

TotalEnergies is set to invest approximately $444 million to establish a new joint venture with Adani Green Energy. The company's board recently approved the definitive agreements for this 50:50 partnership.

The investment, which will be made directly or through TotalEnergies' affiliates, was disclosed by Adani Green Energy in a filing with the stock exchanges. The joint venture will be formed between Adani Green Energy, Adani Renewable Energy Sixty Four, and TotalEnergies Renewables Singapore.

The new venture will manage a portfolio of 1,150 megawatts (MW), featuring a combination of operational and in-progress solar assets. This portfolio will include both merchant-based and power purchase agreement (PPA)-based projects.

HBL