Total pays USD 484m for stake in Indian solar JV with Adani Green

Photo by: Adani Solar (www.adanisolar.com).

April 8 (Renewables Now) - French oil and gas group Total SA (EPA:FP) has officially invested INR 37.07 billion (USD 484m/EUR 445m) to get a 50% stake in an equally-owned solar power joint venture (JV) with India’s Adani Green Energy Ltd (BOM:541450).

As previously announced, the JV in question houses 2,148 MW of operating solar power plants, located across 11 states in India. This includes the Restricted Group 1 & 2 projects that recently secured USD 862.5 million (EUR 793m) from the international bond markets, Adani Green said in a statement.

The Indian company that is part of the Adani Group noted it is on track to establish a 25-GW portfolio by 2025, when it hopes to be the largest solar power player in the world. For 2030 it has set an even more ambitious goal, to be the biggest renewable player globally.

(INR 10 = USD 0.130/EUR 0.120)

(USD 1.0 = EUR 0.920)

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