Total strengthens its partnership with Adani
Published by Lydia Woellwarth,
Editor
Energy Global,
In April 2020, Total and AGEL, a renewable energy subsidiary of the Adani Group, formed a joint venture (JV) to which AGEL contributed a portfolio of 2.1 GW of solar power plants. As part of an option provided for in the initial contract for the formation of the JV, Total and AGEL agreed to extend this portfolio from 2.1 to 2.3 GW with the addition of new solar farms.
“With an ambitious target of 175 GW of installed capacity by 2022, India is a strong growth area for renewable energy. Since last year, the Group has strengthened its commitment in India with around 5 GW of solar projects in the country, in line with its ambition to become a world leader in renewable energies. We are very pleased to further expand our partnership with the Adani Group,” said Patrick Pouyanné, Chairman and CEO of Total.
This transaction is in line with the Group’s objective of double-digit return on equity for renewable projects.
Total, renewables and electricity
As part of its ambition to get to net zero by 2050, Total is building a portfolio of activities in electricity, renewable in particular, that could account for up to 40% of its sales by 2050. By the end of 2020, Total's gross power generation capacity worldwide will be around 12 GW, including approximately 7 GW of renewable energy. With the objective of reaching 35 GW of production capacity from renewable sources by 2025, Total will continue to expand its business to become one of the world leaders in renewable energies.
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Energy Global’s Summer 2020 issue
The Summer issue of Energy Global provides in-depth technical articles covering technological advancements and future outlooks in the renewables sector, from companies including Sulzer, Power Ledger, JinkoSolar, Trelleborg Applied Technologies, Clir Renewables, and many more. The issue covers a spectrum of clean energies, from wind to hydrogen to solar to biofuels.
Read the article online at: https://www.energyglobal.com/solar/16102020/total-strengthens-its-partnership-with-adani/
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