Strategic Partnership Realized
Adani Green Energy Limited (AGEL) successfully concluded its joint venture (JV) with TotalEnergies, bringing a significant investment of $300 million into AGEL’s subsidiary. The completion follows the formal agreement announced in September 2023.
Portfolio Overview
The JV encompasses a 1,050 MW portfolio, featuring 300 MW in operation, 500 MW under construction, and 250 MW under development. This diversified portfolio includes solar and wind power projects across India.
Strategic Implications
TotalEnergies’ $300 million investment solidifies its alliance with AGEL and bolsters support for AGEL’s ambitious target of achieving 45 GW renewable energy capacity by 2030. AGEL stands as India’s largest renewable energy solutions partner, playing a pivotal role in the nation’s clean energy transition.
AGEL’s Commitment and Achievements
AGEL, committed to its 45 GW target by 2030, currently operates an 8.4 GW renewable portfolio across 12 states in India. This substantial portfolio has offset over 41 million tonnes of CO2 emissions cumulatively. AGEL’s approach integrates technology to reduce the Levelized Cost of Energy (LCOE), making clean energy adoption more affordable.
Environmental Stewardship
AGEL’s operating portfolio sets benchmarks for environmental responsibility, being certified as “water positive for plants of more than 200 MW capacity,” “single-use plastic-free,” and “zero waste-to-landfill.” These certifications underscore AGEL’s dedication to sustainable growth.
This joint venture not only strengthens the partnership between Adani Green and TotalEnergies but also propels India’s renewable energy landscape towards more ambitious and sustainable goals.
Source：businessworld.in
