Adani Green Energy Ltd has announced that its Board of Directors has approved the execution of binding documents, including a joint venture agreement, with Adani Renewable Energy Sixty-Four Limited (ARE64L) and TotalEnergies Renewables Singapore Pte Limited (TotalEnergies).<\/p>\n
Under the agreement, TotalEnergies, a French multinational integrated energy and petroleum company, will invest approximately $444 million, either directly or through its affiliates, to create a new 50:50 joint venture with Adani Green.<\/p>\n
Adani Green, which controls the renewable energy portfolio for the Indian majority-owner conglomerate Adani Group, is also minority-owned by TotalEnergies.<\/p>\n
The new joint venture will manage a portfolio of 1,150 MWac (megawatt alternating current), consisting of both operational and under-development solar assets. This portfolio will include a mix of merchant-based and Power Purchase Agreement (PPA) based projects.<\/p>\n
\u201c<\/i><\/em>The joint venture will house a 1,150 MWac (Mega-Watt Alternating Current) solar power portfolio in a mix of operational and under execution assets, with a blend of both merchant-based as well as PPA-based projects,<\/i><\/em>\u201d <\/i><\/em>the company said.<\/p>\n Ahmedabad-headquartered Adani Green Energy’s shares finished 5.27% higher at \u20b91,935.00 on the National Stock Exchange (NSE).<\/p>\n","protected":false},"excerpt":{"rendered":" Adani Green Energy Ltd has announced that its Board of Directors has approved the execution of binding documents, including a joint venture agreement, with Adani Renewable Energy Sixty-Four Limited (ARE64L) and TotalEnergies Renewables Singapore Pte Limited (TotalEnergies). Under the agreement, TotalEnergies, a French multinational integrated energy and petroleum company, will invest approximately $444 million, either […]<\/p>\n","protected":false},"author":27,"featured_media":46716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,249],"tags":[],"class_list":["post-46712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/46712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=46712"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/46712\/revisions"}],"predecessor-version":[{"id":46717,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/46712\/revisions\/46717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/46716"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=46712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=46712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=46712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}