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Adani Green Energy board okays pact to form JV, TotalEnergies to invest $444M
YourStory
·
11m ago
Medial
Adani Green Energy has announced that its board has approved binding documents for a joint venture with TotalEnergies. The agreement will allow TotalEnergies to invest an additional $444 million in a new 50:50 JV with Adani Green Energy. The JV will comprise a portfolio of 1,150 MWac of solar assets, including operational and under-execution projects. Adani Green Energy and TotalEnergies will each hold a 50% stake in the JV company. TotalEnergies currently has a 19.75% shareholding in Adani Green Energy.
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Adani Energy raises USD 300 million from TotalEnergies for JV project
Livemint
·
1y ago
Medial
French energy company TotalEnergies has invested $300 million in a joint venture with Adani Green Energy Ltd. The joint venture will include a portfolio of 1,050 MW of renewable energy assets in India, comprising of solar and wind power projects. This investment strengthens the strategic alliance between TotalEnergies and AGEL and supports AGEL's target of achieving 45 GW capacity by 2030. Additionally, AGEL plans to raise ₹9,350 crore ($1.2 billion) through the issuance of preferential warrants to promoters to accelerate its green energy capacity expansion.
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TotalEnergies pauses business with Adani, says it was not aware of US probe
VCCircle
·
8m ago
Medial
French oil company TotalEnergies has announced that it will suspend its financial contributions to Adani Group investments amid an ongoing US investigation into possible bribery and corruption at Adani Green Energy. Total holds a 20% stake in Adani Green Energy and claims it was not made aware of the investigation. Last week, US prosecutors charged eight individuals, including Indian tycoon Gautam Adani, with making improper payments to Indian officials for business advantages. TotalEnergies has described its relationship with Adani as a "strategic alliance" and estimates its financial exposure to Adani firms at around $4-5 billion.
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Adani Group to invest $100 bn over five years in clean energy sector
Economic Times
·
1m ago
Medial
The Adani Group plans to invest $100 billion over the next five years in the clean energy sector, aiming to achieve a 100 GW energy generation capacity by 2030. The plan includes 31 GW from Adani Power and 45 GW from Adani Green Energy in renewable energy. Additionally, the Group is undertaking a significant urban rehabilitation project in Dharavi and advancing its ports, airports, and solar manufacturing projects, reinforcing its commitment to India's infrastructure development.
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Adani to invest Rs 2.3 lakh Cr in renewable energy, manufacturing capacity
YourStory
·
1y ago
Medial
Adani Group plans to invest Rs 2.3 lakh crore by 2030 in India's largest renewable energy project. Adani Green Energy Ltd (AGEL) aims to expand solar and wind power capacity to 30 gigawatts in Khavda, Gujarat, and establish additional projects nationwide. Additionally, Adani New Industries Ltd (ANIL) will increase solar cell and wind turbine production in Mundra. This move marks a significant stride in India's renewable energy sector.
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TotalEnergies halts Adani investments; GQG bets on Indian govt backing amid US bribery charges | Company Business News
Livemint
·
8m ago
Medial
French energy company TotalEnergies has decided not to invest additional capital in Adani Group companies following the indictment of top executives in a $250m bribery case. However, major investor GQG Partners remains optimistic and expects the Indian government to support the conglomerate. GQG Partners acknowledge the seriousness of the allegations against individuals, but believes the fundamentals of the invested companies remain sound. The US Department of Justice and Securities and Exchange Commission have charged Adani Group founder Gautam Adani and others with allegedly paying bribes to Indian government officials.
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Adani Group’s 12-month trailing EBITDA up 34.4 per cent y-o-y
Thehindubusinessline
·
1y ago
Medial
Adani Group reported a 34.4% increase in its trailing 12-month EBITDA at ₹78,823 crore ($10.5 billion), with core infrastructure businesses contributing ₹66,208 crore ($8.8 billion). The group plans to invest approximately $100 billion in renewable energy transition over the next few years. Adani Enterprises, the group's incubator, oversees emerging businesses such as airports, green hydrogen, roads, data centres, and defence, contributing around 45% to the group's EBITDA. Adani Green Energy aims to increase its renewable capacity from 9 GW to 45 GW by 2030. Adani Ports and Special Economic Zone aims to handle 400 million tonnes of cargo this year.
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Adani Group’s 12-month trailing EBITDA up 34.4 per cent YoY
Thehindubusinessline
·
1y ago
Medial
The Adani group reported strong financial performance in 2023, with a 34.4% increase in EBITDA. The group aims to invest around $100 billion in renewable energy over the next few years. It ended 2023 with a cash balance of $4.5 billion and raised funds of ₹91,290 crore during the first nine months of FY24. Adani Enterprises houses emerging businesses like airports, green hydrogen, and data centers. Adani Green Energy plans to increase its renewable capacity from 9 GW to 45 GW by 2030. Adani Ports and Special Economic Zone recorded a cargo handling volume of 311 million tonnes in FY24.
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Adani Group to invest over ₹1.2 lakh crore across portfolio companies in FY25
Livemint
·
1y ago
Medial
Adani Group plans to invest over ₹1.2 lakh crore ($14 billion) in the next fiscal year, with a key focus on green energy. The investments will be allocated across the group's portfolio, including energy, airports, commodities, cement, and media. The planned investments are 40% higher than the current fiscal year. Around 70% of the investment will be directed towards green energy, while the remaining 30% will be used to expand airports and ports businesses. The Adani Group is expecting significant profitability after the execution of these investments.
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Adani merges step-down subsidiaries with ANIL
YourStory
·
10m ago
Medial
- Adani Group has merged two subsidiaries, Adani Infrastructure Private Limited and Mundra Solar Technology Limited, with Adani New Industries Ltd. - Adani Infrastructure and Developers is primarily engaged in real estate and power project development. - Mundra Solar Technology is involved in the production and distribution of electricity. - Adani New Industries focuses on low-carbon projects such as green hydrogen and wind turbine manufacturing. - Adani Group has a facility for manufacturing solar PV modules and wind turbines. - TotalEnergies holds a 25% stake in Adani New Industries, while Adani Enterprises Ltd holds the remaining equity.
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Adani, MG Motor India Ink Pact To Boost EV Charging Network
Inc42
·
1y ago
Medial
Adani TotalEnergies E-Mobility, a subsidiary of Adani Total Gas, has signed an MoU with MG Motor India to strengthen the electric vehicle charging infrastructure in the country. As part of the partnership, ATEL will install CC2 60 kW DC chargers at MG dealerships and provide a comprehensive solution for charging infrastructure. The two companies will also explore the integration of public charging stations across platforms and introduce a digital platform for a seamless customer experience. This collaboration reflects their commitment to sustainable mobility and aims to empower Indian consumers to embrace electric mobility.
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