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, 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 JV AGEL23 in 2020 and our acquisition of shares in AGEL in 2021, this new JV 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, added; “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 decarbonisation. 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.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2023 issue
The Autumn 2023 issue of Energy Global hosts an array of technical articles focusing on green hydrogen, wind installation technology, blade monitoring solutions, and more. This issue also features a regional report looking at some key renewables projects in Australia.
