Adani Green And TotalEnergies Tie Up For Khavda Solar Projects (image/adanigreenenergy)
Adani Green Energy Limited (AGEL) and TotalEnergies have announced the formation of an equally owned joint venture (JV) to manage a portfolio of solar projects totalling 1,150 MW.
These projects, according to Adani Renewables, are part of the world’s largest renewable energy plants in Gujarat’s Khavda, covering an area of 538 square kilometres, which is five times the size of Paris. While TotalEnergies plans to use US $444 million to speed up the development of the projects, AGEL will contribute its existing assets to the new JV.
The electricity generated from the solar projects will be sold through Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI) and on the wholesale market.
The investment highlights the two companies’ commitment towards strengthening their collaboration and supporting India’s transition to clean energy.
AGEL has already operationalised 2,250 MW of solar and wind energy capacity at the site. According to Adani Renewables, when completed, the plant will supply affordable and clean energy to over 16 million homes in the country, generate over 15,200 green jobs, and avoid nearly 58 million metric tonnes of carbon dioxide emissions every year.
The signing and completion of this transaction are subject to customary closing conditions, including regulatory approvals.
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One of the largest renewable companies in India, with a current project portfolio of 20,434 MW, AGEL develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects driven by the Adani Group’s philosophy of ‘Growth with Goodness,’ as per the company website.
A global multi-energy company, TotalEnergies produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. The company is active in roughly 130 countries.
