Total to acquire 20% stake in Adani Green Energy

Ahmedabad, Jan 18 : Deepening its strategic alliance in India’s sustainable energy space, French energy major Total proposes to acquire 20 per cent minority interest in Adani Green Energy Ltd. (AGEL).
The deal will be completed with Total acquiring shares held by the Adani Promoter Group in AGEL.
The transaction marks the deepening partnership between the Adani Group and Total — in the transition and green energy fields in India.
The investment in AGEL is another step in the strategic alliance between Adani Group and Total, across various businesses and companies of the Adani Group, covering investments in LNG terminals, gas utility business, and renewable assets across India.
In 2018, Total and Adani embarked on the energy partnership with investment by Total in Adani Gas Limited, city gas distribution business, associated LNG terminal business and gas marketing business.
Total acquired 37.4 per cent stake in Adani Gas Limited and 50 per cent stake in Dhamra LNG project. During the development of this partnership, it was further agreed that Total and Adani shall continue this alliance into the wider sustainable energy space.