India: TotalEnergies to Invest in a New Solar Portfolio of over 1 GW with Adani Green
03 Septembre 2024 - 8:14AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Adani Green
Energy Limited (AGEL) have entered into an agreement to create a
new joint venture, equally owned by TotalEnergies and AGEL, with a
1,150 MWac (1,575 MWp) solar portfolio in Khavda in Gujarat.
The electricity generated by the solar projects will be sold
through Power Purchase Agreements (PPAs) signed with the federal
government agency, Solar Energy Corporation of India (SECI), and
through sales on the wholesale market. This new transaction will
allow TotalEnergies to capitalize on the ongoing liberalization of
the Indian electricity market.
This will strengthen TotalEnergies’ strategic alliance with
AGEL, allowing it to support the company in becoming a global
renewable leader as it targets 50 GW of renewable power capacity by
2030. AGEL already operates over 11 GW of solar and wind capacity
in India.
AGEL will contribute to the joint venture with assets and
TotalEnergies will provide an equity investment of $444m to support
their development. The signing and completion of the transaction is
subject to the approval of AGEL’s shareholders and satisfaction of
customary closing conditions, including the receipt of certain
regulatory approvals.
Khavda: the world’s largest renewable energy plant
AGEL (19.75% owned by TotalEnergies), is developing the world’s
largest renewable energy site in the Khavda region (Gujarat).
Spanning over 538 km², five times the size of Paris, the site will
boast solar and wind capacity of 30 GW. Of this, 2 GW has already
been operationalized by AGEL. Once completed, Khavda will generate
enough electricity to power the equivalent of 16 million homes in
India.
***
About Adani Green Energy Limited Adani Green Energy
Limited (AGEL) is India’s largest and one of the leading renewable
energy companies in the world enabling the clean energy transition.
AGEL develops, owns, and operates utility scale grid-connected
solar, wind, hybrid and hydro pumped storage renewable power
plants. AGEL currently has an operating renewable portfolio of 11.2
GW, the largest in India, spread across 12 states. The company has
set a target of achieving 50 GW by 2030 aligned to India’s
decarbonization goals. AGEL is focused on leveraging technology to
reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling
largescale adoption of affordable clean energy. AGEL’s operating
portfolio is certified ‘water positive for plants of more than 200
MW capacity’, ‘single-use plastic free’ and ‘zero
waste-to-landfill’, a testament to the company’s commitment of
powering sustainable growth.
For more information, please visit www.adanigreenenergy.com
TotalEnergies and electricity As part of its ambition to
get to net zero by 2050, TotalEnergies is building a world class
cost-competitive portfolio combining renewables (solar, onshore and
offshore wind) and flexible assets (CCGT, storage) to deliver clean
firm power to its customers. At the end of 2023, TotalEnergies’
gross renewable electricity generation installed capacity was 22
GW. TotalEnergies will continue to expand this business to reach 35
GW in 2025 and more than 100 TWh of net electricity production by
2030.
About TotalEnergies TotalEnergies is a global integrated
energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
@TotalEnergies TotalEnergies TotalEnergies
TotalEnergies
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. 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. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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