TotalEnergies and Adani Group form joint venture for solar projects
Adani Group's firm, Adani Green Energy has formed a joint venture (JV) TotalEnergies to manage a significant portfolio of solar projects in India. The equally owned JV will oversee solar projects with a combined capacity of 1.15GW, located in Khavda, Gujarat.
Adani Green Energy contribute its current assets to the new JV, while TotalEnergies will invest USD 444m to expedite the development of the projects. Electricity from these projects will be sold through power purchase agreements (PPAs) with the Solar Energy Corporation of India (SECI), and on the wholesale market.
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