Adani Green Energy Ltd. has signed a binding agreement for a fresh $300 million investment from TotalEnergies SE.
The Adani group company approved a term sheet to form a new 50:50 joint venture with Total, either directly or through its affiliates, and change certain terms of its investment in Adani Green Energy Twenty-Three Ltd., an existing equal partnership, according to an exchange filing.
The new JV will house 1,050 megawatts of alternating current portfolio, comprising a mix of operational (300 MWac), under-construction (500 MWac) and under development assets (250 MWac) of solar and wind power, it said.
Total, through its affiliate entities, holds about 19.75% in Adani Green. The transaction is subject to customary approvals and conditions.
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