TotalEnergies and Adani JV to Develop 1GW Solar Energy in Gujarat, India
Key Ideas
  • TotalEnergies partners with Adani Green Energy Limited to develop over 1GW of solar energy in Gujarat, supporting India's renewable energy goals.
  • TotalEnergies invests $444 million in the JV with a 19.7% stake, aiming to capitalize on India's renewable electricity and natural gas market.
  • Adani Green aims to reach 50GW of capacity by 2030, with TotalEnergies investing significantly in renewable energy projects to expand its electricity generation and reduce carbon emissions.
  • Both companies align their strategies with decarbonization efforts, highlighting their commitment to sustainable energy and net zero goals in India.
TotalEnergies and Adani Green Energy Limited have announced a historic partnership to develop over 1GW of solar energy in Gujarat, India. This joint venture aims to boost renewable energy production in India and support global decarbonization efforts. TotalEnergies is investing $444 million with a 19.7% stake in the JV, while Adani Green will contribute assets towards the development of a 1,150 MWac solar portfolio in Khavda, Gujarat. The electricity generated will be sold through Power Purchase Agreements with the Solar Energy Corporation of India and on the open market. The collaboration signifies a broader strategy to capitalize on India's evolving renewable electricity and natural gas market. TotalEnergies is committed to expanding its renewable energy capacity, aiming to exceed 100 TWh of net electricity production by 2030 and investing significantly in renewable energy projects. Adani Green, with its existing 11 GW of solar and wind capacity, targets 50 GW by 2030. TotalEnergies' investments in renewable energy form a key part of its strategy to reduce carbon emissions and achieve net zero targets. The company is dedicated to evaluating every new project for its impact on emissions intensity and is committed to the Paris Agreement's goal of limiting global temperature rise. Adani's vision for a net zero future aligns with TotalEnergies' commitment to sustainability, with a focus on developing large-scale renewable energy sites to support India's decarbonization efforts. The partnership between TotalEnergies and Adani marks a significant step towards sustainable energy production in India, highlighting their joint efforts to contribute to the country's renewable energy goals and support the transition towards a greener future.
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