Schedule a Call Back
Adani Green and TotalEnergies to form $444 million joint venture
Industry News- Sep 03,24
Adani Green Energy stated that both companies will equally share the equity of the joint venture, named ARE64L, with each holding a 50% stake.
Adani Green Energy has entered into a binding agreement with TotalEnergies Renewables Singapore to establish a joint venture involving a $444 million investment, according to a company filing on September 2. The new entity will manage a 1,150 MWac (Mega-Watt Alternating Current) solar power portfolio, comprising both operational and under-construction assets. The projects will include a mix of merchant-based and power purchase agreement (PPA)-based ventures.
Adani Green Energy stated that both companies will equally share the equity of the joint venture, named ARE64L, with each holding a 50% stake. The final transaction details are currently under discussion, pending customary approvals and conditions.
Adani Green highlighted the company's significant progress in expanding its renewable energy capacity but emphasised the need for further growth to meet rising demand. The company has set ambitious goals, aiming to add 35 GW of solar capacity and 9 GW of wind capacity annually by 2030. This aligns with India’s target of achieving 500 GW of non-fossil power capacity by the same year.
(moneycontrol)
Related Stories
Electrical & Electronics
From Modules to Materials: India’s Roadmap for Solar Manufacturing Leadership
India’s solar manufacturing journey is entering a new phase, driven by policy initiatives, domestic demand and global opportunities. The NITI Aayog report outlines the roadmap to build a resilient..
Read moreElectrical & Electronics
Alpex Solar commissions 2.2 GW TOPCon solar cell manufacturing facility in UP
Alpex Solar has inaugurated its 2.2 GW G12R TOPCon PV solar cell manufacturing facility in Mathura, strengthening its backward integration strategy and renewable energy manufacturing capabilities.
Read moreIndustrial Safety & Security
Chicago Pneumatic Launches CPS 950-300 Portable Air Compressor
Chicago Pneumatic India has launched the CPS 950-300 portable air compressor for waterwell, mining and solar foundation drilling applications, offering improved efficiency and operational versatilit..
Read moreRelated Products
Computer And Laptop
ELECTRICAL & ELECTRONIC EQUIPMENT
SICCO Engineering Works offers a wide range of computer and laptop.
Read more
Test Terminal Block Utility Plus - Jttbu Plus
ELECTRICAL & ELECTRONIC EQUIPMENT
JVS Electronics Pvt Ltd offers a wide range of test terminal block utility plus - JTTBU plus.
Read more
Kusam-meco Handheld Thermal Camera Model- Km 300
ELECTRICAL & ELECTRONIC EQUIPMENT
KUSAM-MECO, the innovators of new products in the Test and Measurement field, have added a new Thermal Imager with Camera.
Read morelatest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
