Adani Green Energy and TotalEnergies Join Forces for Renewable Power in India”
Newzdaddy Business Updates
Ahmedabad, September 20, 2023 – Adani Green Energy Limited (AGEL) and TotalEnergies have made a big agreement to work together. They will create a new company together, and both AGEL and TotalEnergies will own it equally. This new company will have a total of 1,050 megawatts (MW) of renewable energy. Some of these power sources are already working (300 MW), some are being built (500 MW), and some are still in the planning stages (250 MW). They will use both solar and wind power.
AGEL will provide the power sources, and TotalEnergies will invest 300 million US dollars to help develop them.
This partnership will make TotalEnergies and AGEL even stronger in their goal to lead India in renewable energy. They want to have 45 gigawatts (GW) of renewable energy by 2030.
The Chairman of the Adani Group, Mr. Gautam Adani, said, “We are happy to work with TotalEnergies in AGEL. This investment will make AGEL even more important in India’s efforts to use cleaner energy. We want to have 45 GW of renewable energy by 2030.”
The Chairman and CEO of TotalEnergies, Mr. Patrick Pouyanné, said, “TotalEnergies has been working in India’s renewable energy market through AGEL. This new partnership with AGEL will help us grow faster by giving us access to more power sources. We want to support AGEL in becoming the leader in renewable energy in India.”
The deal will be completed once they get all the needed approvals from regulators.
In simple terms, two big companies, AGEL and TotalEnergies, are teaming up to make more clean energy in India. They will own a new company together and use the sun and wind to make electricity. This helps India use more clean energy, and they want to have a lot of it by 2030.
