Adani Green Energy Ltd. has completed setting up a joint venture TotalEnergies Group for solar and wind projects.
As part of the JV, TotalEnergies invested $300 million in Adani Green subsidiary for acquiring 50% stake in the projects, according to an exchange filing. The rest is held by Adani Green.
The two companies had in September announced signing a binding agreement to set up the JV.
The joint venture houses a 1,050 MW portfolio comprising a mix of already operational (300 MW), under-construction (500 MW) & under-development (250 MW) solar and wind power projects in India.
"With this transaction, TotalEnergies has reinforced its strategic alliance with Adani Green Energy and support in enabling Adani Green Energy's target of 45 GW capacity by 2030", filing said.
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