Adani Green Energy Limited (AGEL), India’s leading renewable energy company, and French multinational TotalEnergies have announced a strategic joint venture (JV) to manage solar projects totaling 1,150 MW at the world’s largest renewable energy plant in Khavda, Gujarat. The Joint Venture will be equally owned by both companies.
AGEL will contribute its existing assets to the partnership, while TotalEnergies plans to invest USD 444 million to accelerate the development of these solar projects. The investment highlights the companies’ commitment to advancing India’s transition to clean energy.
The electricity generated by the 1,150 MW solar projects will be sold through Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI) and on the wholesale market.
The Khavda renewable energy plant, currently under development by AGEL, is located on barren land and spans 538 square kilometers, an area five times larger than Paris. AGEL has already operationalized 2,250 MW of solar and wind energy at the site. Once completed, the plant is expected to supply affordable clean energy to over 16 million homes, create more than 15,200 green jobs, and avoid approximately 58 million tons of CO2 emissions annually.
The transaction is subject to customary closing conditions, including regulatory approvals.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
