TotalEnergies Sells 1.7% Stake In Adani Green Energy For ₹2,778 Crore

TotalEnergies has sold a small portion of its stake in Adani Green Energy through block deals executed on December 10. The company, through its subsidiary TotalEnergies Renewables Indian Ocean, offloaded 1.7 percent equity in the renewable energy firm. This sale involved 2.86 crore shares and generated ₹2,778.09 crore. The shares were sold at ₹970 each, slightly below the market price. Following the transaction, Adani Green Energy’s stock slipped nearly 1 percent to ₹989.8 on the NSE and was seen trading near the lower end of its Bollinger Bands.

Before this sale, TotalEnergies held a significant 18.99 percent stake in Adani Green Energy through two subsidiaries, valued at ₹30,972 crore as of September 2025. The block deal attracted 17 buyers, with Quant Mutual Fund emerging as the largest purchaser. Quant acquired 1.23 crore shares, representing a 0.75 percent stake, for ₹1,200 crore. The remaining 1.62 crore shares worth ₹1,578.09 crore were bought by 16 other investors. These included BNP Paribas Financial Markets, Edelweiss Mutual Fund, Vanguard Emerging Markets Shares Index Fund, Amity Holdings, Cohesion MK Best Ideas, Visaria Family Trust, and Authum Investment.

The partnership between Adani Green Energy and TotalEnergies has been active for several years. They first collaborated in 2020 by forming a 50-50 joint venture called AGEL23 to manage 2.3 GWac/3.1 GWp of solar projects. In January 2021, TotalEnergies strengthened this relationship by acquiring a 20 percent stake in Adani Green Energy. The collaboration expanded again in 2023 and 2024 through the creation of two additional 50-50 joint ventures involving renewable projects of 1.05 GWac/1.53 GWp and 1.15 GWac/1.58 GWp. With these efforts, their total joint venture renewable capacity has grown to 4.5 GWac/6.2 GWp. Despite the recent stake sale, the long-standing partnership continues to reflect significant cooperation in India’s renewable energy landscape.