New Delhi: TotalEnergies has committed to boost the support to Adani Green investments in India. Adani Green, which currently boasts of having more than 14 GW energy capacity, is one of the major players in the renewable energy sector in India.
French energy giant happens to be the largest US LNG energy exporter in the world. The development came amid the ongoing visit of Commerce Minister Piyush Goyal, who is currently on a three-day visit to France from 1st June.
As per ANI, Total Energy CEO Patrick Pouyanné said, “We are committed to continuing to support the expansion of Adani Green, which already has 14 gigawatts of capacity,” furtehr adding, “we will continue to support this growth”.
The proposed partnership is expected to play a crucial role in achieving India’s ambitious renewable energy targets and the country’s transition towards cleaner energy sources.
The French energy major has invested approximately USD 5 billion in India over the past five years, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind installations, in partnership with Adani entities.
The partnership started back in 2021 when TotalEnergies acquired a minority stake in the Adani energy firm. It also acquired a 50 percent stake in three joint ventures with AGEL as part of its strategy to establish itself in the renewable energy market, which is expected to be around $50 billion USD in the year 2032, as per the IRENA report. India has set ambitious targets for renewable energy capacity, including 175 GW by 2022 and 500 GW by 2030.
During the minister’s meeting, the CEO outlined the broader Indian commitments for expansion, including the increased energy exports from the United States. He also highlighted the plans to restart the Mozambique plant to provide further energy supplies to India.
The commitment marks a significant development for Adani, as it was involved in the alleged Hindenburg allegations in November 2024. In response to the allegation, the French company had announced its suspension from further partnerships with Adani, provided Adani clears the pending clarification.
TotalEnergies emphasised that its investments in Adani entities were conducted in full compliance with applicable laws and the company’s internal governance processes based on thorough due diligence and declarations provided by the investment partners.
The renewed partnership comes as both companies look to capitalise on India’s growing renewable energy market. Commerce Minister Goyal reportedly encouraged TotalEnergies to expand its presence in India further, building on the substantial investments already made in the country’s energy infrastructure.
The announcement also follows a memorandum of understanding signed with Gujarat State Petroleum Corporation (GSPC) during the India Energy Summit, signaling TotalEnergies’ broader commitment to the Indian energy sector.
TotalEnergies has reaffirmed its commitment to Adani Green Energy, significantly boosting its investment in the Indian renewable energy sector. This partnership aims to accelerate India’s transition to cleaner energy, leveraging Adani Green’s substantial capacity and TotalEnergies’ global expertise. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
