India: TotalEnergies to Invest in a New Solar Portfolio of over 1 GW with Adani Green
TotalEnergies and Adani Green Energy (AGEL) have agreed to create a new 50-50 joint venture with a 1,150 MWac (1,575 MWp) solar portfolio in Khavda, Gujarat. The electricity will be sold through PPAs with SECI and on the wholesale market. TotalEnergies will invest $444 million to support the development. This transaction strengthens TotalEnergies' alliance with AGEL, supporting its goal of 50 GW renewable capacity by 2030. The deal is subject to AGEL shareholder approval and regulatory clearances.
AGEL is developing the world's largest renewable energy site in Khavda, spanning 538 km² with a planned capacity of 30 GW. Once completed, it will power the equivalent of 16 million Indian homes.
TotalEnergies e Adani Green Energy (AGEL) hanno concordato di creare una nuova joint venture al 50% con un portafoglio solare da 1.150 MWac (1.575 MWp) a Khavda, Gujarat. L'elettricità sarà venduta tramite PPA con SECI e sul mercato all'ingrosso. TotalEnergies investirà 444 milioni di dollari per sostenere lo sviluppo. Questa transazione rafforza l'alleanza di TotalEnergies con AGEL, sostenendo il suo obiettivo di 50 GW di capacità rinnovabile entro il 2030. L'accordo è soggetto all'approvazione degli azionisti di AGEL e alle autorizzazioni regolatorie.
AGEL sta sviluppando il più grande sito di energia rinnovabile al mondo a Khavda, che si estende per 538 km² con una capacità pianificata di 30 GW. Una volta completato, fornirà energia a circa 16 milioni di abitazioni indiane.
TotalEnergies y Adani Green Energy (AGEL) han acordado crear una nueva empresa conjunta al 50% con un portfolio solar de 1,150 MWac (1,575 MWp) en Khavda, Gujarat. La electricidad se venderá a través de PPA con SECI y en el mercado mayorista. TotalEnergies invertirá 444 millones de dólares para apoyar el desarrollo. Esta transacción refuerza la alianza de TotalEnergies con AGEL, apoyando su objetivo de 50 GW de capacidad renovable para 2030. El acuerdo está sujeto a la aprobación de los accionistas de AGEL y a las autorizaciones regulatorias.
AGEL está desarrollando el mayor sitio de energía renovable del mundo en Khavda, que abarca 538 km² con una capacidad planificada de 30 GW. Una vez completado, proporcionará energía equivalente a 16 millones de hogares indios.
TotalEnergies와 Adani Green Energy (AGEL)이 1,150 MWac (1,575 MWp) 태양광 포트폴리오를 가진 50-50 합작투자를 설립하기로 합의했습니다. 생산된 전기는 SECI와의 PPA를 통해 판매되며 도매 시장에서도 거래됩니다. TotalEnergies는 개발 지원을 위해 4억 4,400만 달러를 투자할 것입니다. 이 거래는 TotalEnergies와 AGEL의 협력을 강화하여 2030년까지 50 GW의 재생 가능 용량 목표를 지원합니다. 이 협정은 AGEL 주주의 승인과 규제 승인을 받아야 합니다.
AGEL은 Khavda에서 세계 최대의 재생 가능한 에너지 사이트를 개발하고 있으며, 이 사이트는 538 km²에 걸쳐 있으며 계획된 용량은 30 GW입니다. 완공되면 1,600만 개의 인도 가정에 전력을 공급할 수 있습니다.
TotalEnergies et Adani Green Energy (AGEL) ont convenu de créer une nouvelle coentreprise à 50-50 avec un portefeuille solaire de 1 150 MWac (1 575 MWp) à Khavda, Gujarat. L'électricité sera vendue via des PPA avec SECI et sur le marché de gros. TotalEnergies investira 444 millions de dollars pour soutenir le développement. Cette transaction renforce l'alliance de TotalEnergies avec AGEL, soutenant son objectif de 50 GW de capacité renouvelable d'ici 2030. L'accord est soumis à l'approbation des actionnaires d'AGEL et à des autorisations réglementaires.
AGEL développe le plus grand site d'énergie renouvelable au monde à Khavda, s'étendant sur 538 km² avec une capacité prévue de 30 GW. Une fois achevé, il fournira l'équivalent de l'électricité pour 16 millions de foyers indiens.
TotalEnergies und Adani Green Energy (AGEL) haben sich darauf geeinigt, ein neues 50-50-Joint Venture mit einem 1.150 MWac (1.575 MWp) Solarportfolio in Khavda, Gujarat, zu gründen. Der Strom wird über PPA mit SECI und auf dem Großhandelsmarkt verkauft. TotalEnergies wird 444 Millionen Dollar investieren, um die Entwicklung zu unterstützen. Diese Transaktion stärkt die Allianz von TotalEnergies mit AGEL und unterstützt das Ziel von 50 GW erneuerbarer Kapazität bis 2030. Der Deal steht unter dem Vorbehalt der Genehmigung durch die AGEL-Aktionäre und regulatorischer Genehmigungen.
AGEL entwickelt den größten Standort für erneuerbare Energien der Welt in Khavda, der sich über 538 km² erstreckt und eine geplante Kapazität von 30 GW hat. Nach der Fertigstellung wird er ausreichend Strom für 16 Millionen indische Haushalte liefern.
- Creation of a new 50-50 joint venture with AGEL for a 1,150 MWac solar portfolio
- TotalEnergies' $444 million equity investment to support project development
- Strengthening of strategic alliance with AGEL, supporting its 50 GW renewable capacity target by 2030
- Participation in the world's largest renewable energy site development in Khavda
- Transaction subject to AGEL shareholder approval and regulatory clearances
Insights
This joint venture between TotalEnergies and Adani Green Energy (AGEL) represents a significant investment in India's renewable energy sector. The
The 1,150 MWac solar portfolio in Khavda is part of a larger 30 GW renewable energy site, positioning AGEL as a major player in the global renewable market. The Power Purchase Agreements with SECI provide a stable revenue stream, while the option to sell on the wholesale market offers potential upside as India's electricity market liberalizes.
For investors, this joint venture represents a strategic opportunity in the fast-growing Indian renewable sector, backed by two major energy players. However, it's important to note that the transaction is subject to shareholder approval and regulatory clearances, which could impact the timeline for implementation.
The TotalEnergies-AGEL joint venture is a prime example of India's push towards renewable energy and its attractiveness to foreign investors. The government's supportive policies, including the establishment of SECI for facilitating PPAs, have created a conducive environment for large-scale renewable projects.
The Khavda site, at 538 km², showcases India's ambition in renewable energy infrastructure. Its potential to power 16 million homes highlights the significant impact on India's energy mix and carbon reduction goals. This project aligns with India's target of achieving 450 GW of renewable energy capacity by 2030.
For the broader energy market, this development signals a continued shift towards renewables, potentially influencing energy prices and policy decisions in the long term. Investors should watch for similar large-scale projects and policy developments that could reshape the global energy landscape.
The TotalEnergies-AGEL joint venture reflects the growing investor confidence in India's renewable energy market. With AGEL targeting 50 GW of renewable power capacity by 2030, this partnership positions both companies to capitalize on India's rapidly expanding clean energy sector.
The Khavda project's scale is particularly noteworthy. As the world's largest renewable energy plant, it sets a new benchmark for the industry and could potentially influence future project designs and investments globally. The project's ability to sell power both through PPAs and on the wholesale market provides a balanced approach to revenue generation.
For investors, this move by TotalEnergies represents a significant pivot towards renewables, potentially impacting the company's long-term valuation and environmental, social and governance (ESG) profile. The joint venture structure also allows for shared risk and expertise, which could be a model for future large-scale renewable projects in emerging markets.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Adani Green Energy Limited (AGEL) have entered into an agreement to create a new joint venture, equally owned by TotalEnergies and AGEL, with a 1,150 MWac (1,575 MWp) solar portfolio in Khavda in
The electricity generated by the solar projects will be sold through Power Purchase Agreements (PPAs) signed with the federal government agency, Solar Energy Corporation of
This will strengthen TotalEnergies’ strategic alliance with AGEL, allowing it to support the company in becoming a global renewable leader as it targets 50 GW of renewable power capacity by 2030. AGEL already operates over 11 GW of solar and wind capacity in
AGEL will contribute to the joint venture with assets and TotalEnergies will provide an equity investment of
Khavda: the world’s largest renewable energy plant
AGEL (
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About Adani Green Energy Limited
Adani Green Energy Limited (AGEL) is India’s largest and one of the leading renewable energy companies in the world enabling the clean energy transition. AGEL develops, owns, and operates utility scale grid-connected solar, wind, hybrid and hydro pumped storage renewable power plants. AGEL currently has an operating renewable portfolio of 11.2 GW, the largest in
For more information, please visit www.adanigreenenergy.com
TotalEnergies and electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. At the end of 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 22 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.
About TotalEnergies
TotalEnergies is a global integrated 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 provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
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Cautionary Note
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FAQ
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