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Adani Group Enters Into A JV With TotalEnergies To Boost Renewable Energy

The Adani Group has entered a 50:50 joint venture with TotalEnergies to enhance Indiau2019s renewable energy capacity. This collaboration will manage solar projects with a combined capacity of 1,150 MW in Gujarat, part of the Khavda Renewable Energy Park. TotalEnergies has invested $444 million, emphasizing both companies' commitment to clean energy. Through this partnership, the Adani Group aims to reduce its reliance on Adani coal import for thermal power, accelerating Indiau2019s shift to renewable energy and helping the country meet its net-zero emissions target by 2050.

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Adani Group Enters Into A JV With TotalEnergies To Boost Renewable Energy

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  1. ADANI GROUP ENTERS INTO A JV WITH TOTALENERGIES TO BOOST OUR COUNTRY’S RENEWABLE ENERGY CAPACITY

  2. Yet again, the Adani Group has entered into a joint venture with TotalEnergies to boost its renewable energy capacity. With this joint venture, our country's renewable energy capacity will experience a sharp increase. We will be able to get one step ahead towards our goal of achieving net zero by 2050. We will also no longer have to rely on Adani coal import to meet our energy demands.

  3. The JV With Adani Green Energy Adani Green Energy Limited has recently signed a 50:50 joint venture with TotalEnergies, another big name in the renewable energy space. Through this partnership, the Adani Group aims to manage a portfolio of solar projects. These projects would involve a total capacity of 1,150 MW. These projects will be set up in Gujarat, India. TotalEnergies has already invested 444 million USD for a 50% stake in the joint venture. The collaboration underscores the strong commitment of both companies toward helping India transition to cleaner energy sources. These projects are a part of the world's largest renewable energy park which is currently being developed by AGEL in Khavda, Gujarat. Through this collaboration, both companies will leverage each other's expertise to accelerate the transition to clean energy. It will also help us in the successful fulfillment of our country's renewable energy goals. Our reliance on Adani coal import for the generation of thermal power will decrease.

  4. Adani Group’s Presence in the Renewable Energy Space The Adani Group has been one of the major contributors to the overall renewable energy capacity of India. Since time immemorial, the conglomerate has been working towards ensuring that the country's renewable energy capacity experiences an extraordinary boost. With that aim in mind, it has taken up multiple projects each of which are aimed at ensuring that our renewable energy presence increases and we can make a transition to green energy sources. The global conglomerate has also taken up a lot of initiatives towards strengthening the renewable energy infrastructure in the country. The Adani Group's biggest project in the renewable energy sector has been the Khavda Renewable Energy Park. It is the largest renewable energy park and is spread across 538 square kilometers of land. The project is so big that it is visible even from space. This park currently has an operational portfolio of 11.2 GW which includes both solar and wind energy capacity. With the collaboration with TotalEnergies, it will be able to further increase this portfolio capacity and reach the target capacity of 30 GW by the end of this decade. The company has a lot of other projects lined up as well which will further increase its renewable energy capacity.

  5. The Various Joint Ventures Between Adani Group and TotalEnergies As per recent reports, TotalEnergies has invested 444 million USD in a subsidiary to acquire a 50% stake in AGEL's solar projects at the renewable energy park at Khavda. As per AGEL officials, Adani Renewable Energy Sixty-Four Limited has entered into the JV with TotalEnergies. Adani Renewable Energy Sixty-Four Limited is a subsidiary of Adani Green Energy Limited. This joint venture is expected to manage a portfolio of 1,150 MW. This collaboration is a part of the broader aim to expand the renewable energy capacity in India. Now this is not the first joint venture to have been undertaken by Adani Group and TotalEnergies. These two companies also have multiple other joint ventures beyond their recent solar project collaboration. In 2018, TotalEnergies acquired 37.4% stakes in Adani Gas Limited. This company was later renamed to Adani Total Gas Limited. This joint venture focuses on the city gas distribution and the LNG terminal business. TotalEnergies also holds 50% stakes in the Dhamra LNG project. This includes the development of an LNG regasification terminal. This terminal is expected to start operating soon. It will help enhance India's LNG capacity.

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