India: TotalEnergies to Invest in a New 1,050 MWac Renewable Portfolio JV, Equally Owned With Adani Green Energy Limited (AGEL)
20 Setembro 2023 - 6:24AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Adani Green
Energy Limited (AGEL) have entered into a binding agreement to
create a new JV, equally owned by TotalEnergies and AGEL, with a
1,050 MWac (1400 MWp) portfolio. This portfolio will comprise of a
mix of already operational (300 MWac), under construction (500
MWac) & under development assets (250 MWac) with a blend of
both solar & wind power. AGEL will contribute to the JV the
assets and TotalEnergies an equity investment of 300 MUS$ which
will further support their development.
Thanks to this new transaction, TotalEnergies will reinforce its
strategic alliance with AGEL and support the company in becoming
the Indian leader of renewable energy, with a target of 45 GW
renewable power capacity by 2030.
TotalEnergies’ Chairman and CEO, Mr. Patrick Pouyanné,
commented; “TotalEnergies has been actively developing, notably
through AGEL, its presence in the Indian renewable power market, a
very interesting market by its size and growth and the early
development of a merchant market. After our first joint-venture
AGEL23 in 2020 and our acquisition of shares in AGEL in 2021, this
new joint-venture with AGEL will enable us to speed up our
development through direct access to a large portfolio of assets
and to support the ambition of AGEL in becoming the Indian leader
of renewable energy.”
Adani Group Chairman, Mr. Gautam Adani, commented; “We
are delighted to extend our long-term partnership with
TotalEnergies in AGEL. The investment will further strengthen the
pivotal role played by AGEL in India’s glide path to
decarbonization. This will help deliver our vision to have 45 GW
renewable energy capacity by 2030.”
The completion of the transaction shall be upon satisfaction of
customary closing conditions including the receipt of certain
regulatory approvals.
***
About Adani Green Energy Limited Adani Green Energy
Limited (AGEL), is the renewable energy platform of Adani
Portfolio. The company has one of the world’s largest renewable
portfolios, with locked-in growth of 20.4 GW across operational,
under-construction, awarded and acquired assets, catering to
investment-grade counterparties. The company develops, builds,
owns, operates, and maintains utility-scale grid-connected solar
and wind farm projects. AGEL is focused on decarbonization of power
generation and is helping India meet its sustainability goals.
For more information, please visit www.adanigreenenergy.com
TotalEnergies and renewables electricity As part of its
ambition to get to net zero by 2050, TotalEnergies is building a
portfolio of activities in electricity and renewables. At the end
of July 2023, TotalEnergies' gross renewable electricity generation
installed capacity was 19 GW. TotalEnergies will continue to expand
this business to reach 35 GW of gross production capacity from
renewable sources and storage by 2025, and then 100 GW by 2030 with
the objective of being among the world's top 5 producers of
electricity from wind and solar energy.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in nearly 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
@TotalEnergies - TotalEnergies - TotalEnergies
- TotalEnergies
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l
ir@totalenergies.com
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