Adani Green Energy Limited (AGEL) and TotalEnergies have formed a joint venture (JV) to develop and manage a portfolio of solar projects with a combined capacity of 1,150 MW.
The solar projects will be located in Khavda, Gujarat, with ownership set to be equally shared between AGEL and TotalEnergies. AGEL is contributing its existing assets to the joint venture, while TotalEnergies is set to invest USD444 million for the development of the solar projects. The electricity generated from these projects will be sold through power purchase agreements with the Solar Energy Corporation of India Limited and on the wholesale market.