TOTALENERGIES SE: India: Adani Green Energy Completes the Acquisition of the 5 GW Renewable Portfolio of SB Energy India
04 Octobre 2021 - 08:35AM
UK Regulatory
TIDMTTE
Following the completion of Adani Green Energy's (AGEL)
acquisition of 100% interest in SB Energy India from SoftBank Group
Corp ("SBG") (80%) and Bharti Group (20%) announced on 19(th) May
2021, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), which holds a
20% interest in AGEL adds a net capacity of 1.4 GWp(1) of projects
in operation and under construction to its renewable portfolio.
SB Energy India has a total renewable portfolio of 5 GWac(2)
spread across four states in India. It consists of utility-scale
farms of which 84% solar capacity (4,180 MWac), 9% wind-solar
hybrid capacity (450 MW) and 7% wind capacity (324 MW) with 1,700
MW in operation and a further 2,554 MW under construction and 700MW
near construction(3) . All projects have 25-year PPAs with
sovereign rated counterparties such as Solar Energy Corporation of
India Ltd. (SECI), NTPC Limited and NHPC Limited.
The transaction by AGEL values SB Energy India at a fully
completed enterprise valuation of approximately USD 3.5 Bn(4) .
"We would like to congratulate AGEL's management for closing
this major transaction, which is reinforcing its leadership
position in India and its capacity to contribute actively to the
country's sustainable development, an objective that TotalEnergies
shares with Adani Group," said Patrick Pouyanné, Chairman and CEO
of TotalEnergies. "This transaction and our partnership with AGEL
are key contributors to the Company's objective of reaching 35 GW
of gross production capacity from renewable sources by 2025 and to
be among the world's top 5 in renewable energies by 2030."
TotalEnergies, renewables and electricity
As part of its ambition to get to net zero by 2050,
TotalEnergies is building a portfolio of activities in renewables
and electricity that should account for up to 40% of its sales by
2050. At the end of 2020, TotalEnergies' gross power generation
capacity worldwide was around 12 GW, including 7 GW of renewable
energy. TotalEnergies will continue to expand this business to
reach 35 GW of gross production capacity from renewable sources by
2025, and then 100 GW by 2030 with the objective of being among the
world's top 5 in renewable energies.
About TotalEnergies
TotalEnergies is a broad energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. TotalEnergies SE has no liability for
their acts or omissions. In this document, the terms
"TotalEnergies", "TotalEnergies "Company" and "Company" are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither
TotalEnergies SE nor any of its subsidiaries assumes any obligation
to update publicly any forward-looking information or statement,
objectives or trends contained in this document whether as a result
of new information, future events or otherwise.
__________________
(1) Gigawatt peak (GWp)
(2) Gigawatt alternative current (GWac)
(3) 'Near Construction' denotes that Letter of Award is received and PPA to be
signed
(4) Fully completed enterprise valuation includes all future projects capex
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l
@TotalEnergiesPress
Investor Relations: +44 (0)207 719 7962 l
ir@totalenergies.com
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CONTACT:
TotalEnergies SE
SOURCE: TotalEnergies SE
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