– By the Electrical India content team
French multinational energy major Total S.A. has announced an investment of around Rs 3,707 crore for 50 per cent partnership with Adani Green Energy Limited (AGEL) in a joint venture. The JV houses 2.148 GW operating solar projects across 11 states in India. The portfolio includes the Restricted Group 1 & 2 project that had recently raised USD 862.5 mm from the international bond markets. “Restricted Group 2 was the first Investment Grade rated issuance (rated BBB-/Baa3/BBB-) by a renewable business in India,” said AGEL.
“AGEL is on track to achieve 25 GW by 2025. With this, AGEL also targets to become the largest solar player in the world by 2025 and the largest renewable player in the world by 2030,” AGEL adds. Adani Group has committed to invest over 70 per cent of its budgeted CAPEX into clean energy and energy-efficient systems.
