Insta
Global Energy Major Total To Invest $2 Billion In Adani Green Energy To Acquire 20 Per Cent Stake
Gautam Adani. (Abhijit Bhatlekar/Mint via Getty Images)
Global oil and gas sector behemoth Total SE is set to invest around $2 billion into Gautam Adani led Adani Green Energy to acquire a 20 per cent stake in the Ahmedabad based conglomerate's new and renewable energy venture, reports Times of India.
Earlier in April 2020, Total invested $550 million under a deal to get 50 per cent ownership stake into Adani Green's operational solar projects which have a capacity of over 2.3 gigawatts (GWs). The deal will also provide Total a seat on the board of directors of AGEL.
Meanwhile, it should be noted that having made its debut in 2015 with a 648 megawatts (MWs) solar power project in Tamil Nadu's Kamuthi, the AGEL has since grown rapidly to have over 14.6 GWs of contracted renewable capacity which includes three GWs of operational capacity, another three GWs of under-construction capacity and additional 8.6 GWs of capacity under development.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
