Total to invest USD 300 mn in JV with Adani Group

New Delhi: France's TotalEnergies SE will invest USD 300 million in a new joint venture with Adani Group for renewable energy project, the Indian conglomerate said in a stock exchange filing on Wednesday.

Adani Green Energy Ltd, the renewable energy arm of the Adani group, said: "Total will make a further investment (either directly or through its affiliates) of USD 300 million to form a new 50:50 joint venture company" with AGEL.

Adani Green Energy Twenty Three Limited (AGE23L) will house a 1,050 MWac portfolio, which will comprise a mix of already operational (300 MWac), under construction (500 MWac) and under development assets (250 MWac) with a blend of solar and wind power, it added.