POWERGEN India

Co Located Indian Utility Week       DISTRIBUTECH India

23-25 JUNE 2020
IECC, PRAGATI MAIDAN
NEW DELHI, INDIA

Industry News

hero

10 Feb 2020

Total and Adani sign 2 GW deal to boost India solar sector

Pamela Largue
Total is expanding its partnership with Adani Group, India’s largest privately-owned energy and infrastructure conglomerate, in order to contribute to the growth of solar power generation in the country.

 

The Indian government has a strong policy to support renewable energy growth, intending to increase the country’s capacity from its 81 GW in 2019 to 225 GW by 2022.

Total and Adani Green Energy Limited (AGEL) will create a 50/50 joint venture into which AGEL will transfer its solar assets in operation. These projects are spread over 11 Indian states and have a cumulative capacity of over 2 GW. All the projects benefit from long term power purchase agreements (PPA) with national and regional electricity distributors, with a fixed rate.

“Total is fully engaged in the energy transition and to supporting India, a key country in the fight against climate change, in diversifying its energy mix through partnerships in natural gas and now in solar energy,” said Patrick Pouyanné, Chairman & CEO of Total.

“This interest in over 2 GW of solar projects represents another big step of our investment in India’s energy sector. It will support our ambition to contribute to the deployment of 25 GW of renewable capacities by 2025. We are thrilled to extend the partnership with the Adani Group to renewable energies, which will allow us to benefit from its in-depth knowledge of the Indian electricity market.”

This transaction has a value of approximately $500m and is in line with the Group’s objective of double-digit returns on renewable projects. It remains subject to the approval of the relevant authorities.

Earlier this year, chairman of Adani Group, Gautam Adami, stated their plans to become a global force in the push to adopt green energy sources. They plan to invest over 70 percent of their budgeted capex within their energy verticle into clean energy and energy efficiency systems.
 



We will be deliberating the future of a decarbonising and converging energy industry at POWERGEN India. Covering all forms of power generation from conventional to renewable energy and associated energy storage.

This leading forum is where the power industry can meet, share and discuss solutions for India’s energy future. Proudly supporting the government’s focus on sustained economic growth and attaining ‘Power for all’.

Click here to register your attendance.



This news is brought to you by our Official Supporting Media, Power Engineering International.

Loading
What our clients say...

What our clients say...

  • POWERGEN India & Central Asia covers generation, transmission, distribution and utilization of power in their conventional and futuristic formats, in the perspective of environment and economics, shifts in government policies and regulatory framework... It is a “Must Attend” annually for everyone associated and concerned with power and energy
    P.K.Patnaik
    Ardeeg Project Ventures Pvt. Ltd