Seeing the rise of the Indian solar industry & how Adani Solar has become a very important pillar of the Indian solar industry, TotalSE has announced that they are going to purchase 20% stakes of Adani Green Energy Ltd.
With 3GW running capacity, 3 GW under construction, and with other 8.5 GW under development, Adani Solar holds the biggest shares of the Indian Solar Industry which is around 14.6 GW. Apart from that Adani solar has also aimed to achieve a total solar capacity of 25GW by 2025. This makes Adani solar an ideal partner to work with and a venture partner for getting into the Indian Solar Industry.
Total Se, a French multinational integrated oil and gas company is going to invest in Adani Green Limited by acquiring its 20% stake.
Total Se has already invested around 5700 crores in Adani Gas Ltd in 2019 in return for 37.4% of its stake.
On 18th Jan, Total Se released a statement stating that they are going to acquire a 20% stake of Adani Green along with a 50% stake of its operating 2.5 GW Portfolio.
With this scenario, by end of September 2021, Total Se will have a 74.92% stake in Adani Green which is more than enough to have a seat in the Board Membership.
On other hand, this investment will help Adani Green in reaching its objective of 35 GW gross production capacity
“Given the size of the market, India is the right place to put into action our energy transition strategy based on two pillars: renewables and natural gas,” said Patrick Pouyanné, chairman and chief executive officer of Paris-based Total.
Resource Livemint.com
Click Here for more updates Ornatesolar.com
Leave A Comment