Adani Green Energy

Adani Green Energy Partners with TotalEnergies—1,150 MW Solar Power Revolution in Gujarat

Adani Green Energy Limited (AGEL) and TotalEnergies have announced the creation of a joint venture (JV), where both companies will hold equal stakes to manage a portfolio of 1,150 MW solar projects in Khavda, Gujarat. This strategic partnership aims to leverage the strengths of both entities in advancing India’s renewable energy goals, underscoring their commitment to sustainable development and clean energy transition.

The World’s Largest Renewable Energy Plant in Khavda, Gujarat

The solar projects under this joint venture are part of the world’s largest renewable energy plant, located in Khavda, Gujarat. Spanning 538 square kilometers—an area five times the size of Paris—this ambitious project is being developed on barren wasteland, turning it into a hub for green energy production.

Strategic Investment and Collaboration

AGEL will contribute its existing assets to the joint venture, while TotalEnergies will invest USD 444 million to accelerate the development of these solar projects. This significant investment highlights the deepening collaboration between AGEL and TotalEnergies and their shared vision for a greener future. The joint venture will play a critical role in supporting India’s transition to clean energy, ensuring the rapid delivery of green energy at scale.

Power Purchase Agreements and Market Impact

The electricity generated from 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. This not only ensures a steady revenue stream for the joint venture but also contributes to the stability of India’s renewable energy market.

Ongoing Development and Impact

AGEL has already operationalized 2,250 MW of solar and wind energy capacity at the Khavda site. Once fully completed, the renewable energy plant will provide affordable clean energy to over 16 million homes in India, create more than 15,200 green jobs, and avoid approximately 58 million tons of CO2 emissions annually. These contributions are crucial for India’s environmental goals and for advancing global efforts to combat climate change.

Regulatory Approvals and Future Outlook

The signing and completion of this transaction are subject to customary closing conditions, including regulatory approvals. As AGEL and TotalEnergies move forward with this joint venture, they remain committed to overcoming any challenges and ensuring the successful realization of their shared objectives.

About Adani Green Energy Limited (AGEL)

Adani Green Energy Limited is one of the largest renewable energy companies in India, with a current project portfolio of 20,434 MW. Driven by the Adani Group’s philosophy of ‘Growth with Goodness,’ AGEL develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations. AGEL’s portfolio includes 54 operational projects and 12 projects under construction, solidifying its position as a leader in India’s renewable energy sector.

Conclusion:

The partnership between Adani Green Energy Limited and TotalEnergies marks a significant step towards achieving India’s renewable energy goals. With the development of the world’s largest renewable energy plant in Khavda, Gujarat, this joint venture is set to deliver substantial environmental and economic benefits. By providing affordable clean energy to millions of homes and creating thousands of green jobs, this initiative reinforces the commitment of both companies to sustainable development and the global fight against climate change.

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