TotalEnergies and Adani Green Energy Limited (AGEL) have announced a strategic joint venture to develop a 1,150 MWac (1,575 MWp) solar portfolio in Khavda, Gujarat. The joint venture, equally owned by both companies, will strengthen their ongoing partnership and support AGEL’s ambition to become a global leader in renewable energy.

The electricity generated by the solar projects will be sold through Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI) and on the wholesale market. This move allows TotalEnergies to tap into India’s liberalizing electricity market.

As part of the agreement, AGEL will contribute assets, while TotalEnergies will invest $444 million in equity to advance the development. This deal is pending approval from AGEL’s shareholders and regulatory authorities.

The solar portfolio is part of the larger Khavda renewable energy site, which AGEL is developing into the world’s largest renewable energy plant, spanning 538 km². Once fully operational, Khavda is expected to generate 30 GW of renewable energy, powering 16 million Indian homes.

Source: totalenergies.com