iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

TotalEnergies Invests $300M in AGEL's 1,050 MW JV; AGEL Plans Rs 9,350 Cr Fundraise

27 Dec 2023 , 01:56 PM

TotalEnergies invests USD 300 million in a renewable energy joint venture with Adani Green Energy Ltd (AGEL), acquiring a 50% stake in AGEL subsidiary, as per an exchange filing on December 27.

AGEL completes a 1,050 MW joint venture with TotalEnergies, encompassing operational (300 MW), under construction (500 MW), and under development assets (250 MW) of solar and wind power projects in India.

The joint venture aligns with the binding agreement announced in September 2023, reinforcing TotalEnergies’ strategic alliance with AGEL.

The transaction supports AGEL’s goal of reaching 45 GW capacity by 2030.

AGEL plans to raise Rs 9,350 crore by issuing preferential warrants to promoters, intending to achieve its 45 GW green energy capacity target by 2030.

The board approves a preferential issue of 63.14 million warrants at Rs 1,480.75 each, constituting 3.833% of AGEL’s share capital, for deleveraging and accelerating capital expenditure.

AGEL executes a power purchase agreement with Solar Energy Corporation of India for the supply of 1,799 MW of solar power, marking the final segment of an 8,000 MW manufacturing-linked solar tender secured in 2020.

For feedback and suggestions, write to us at editorial@iifl.com
 

Related Tags

  • AGEL
  • fundraise
  • news
  • TotalEnergies
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.