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TotalEnergies set to acquire renewable energy firm VSB Group for $2.1 bn amid Adani investment halt | Company Business News
Livemint
ยท
8m ago
Medial
TotalEnergies is reportedly nearing a $2.1 billion acquisition of VSB Group from Partners Group. The deal, expected to be announced soon, would see the French energy company expand its presence in the renewable energy sector. VSB Group is a pan-European renewable energy company known for developing and managing wind and photovoltaic parks. The Swiss private equity firm owns an 80% stake in VSB Group and has been looking to divest some of its infrastructure assets. TotalEnergies recently decided to halt new investments in Adani Group companies in India.
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TotalEnergies pauses business with Adani, says it was not aware of US probe
VCCircle
ยท
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 Green Energy board okays pact to form JV, TotalEnergies to invest $444M
YourStory
ยท
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 Group to invest $100 bn over five years in clean energy sector
Economic Times
ยท
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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After Trump win, Gautam Adani announces major $10 bn investment in US energy, aims to create 15,000 jobs in America | Company Business News
Livemint
ยท
8m ago
Medial
Indian billionaire Gautam Adani has pledged to invest $10bn in energy and infrastructure projects in the US, following Donald Trumpโs victory in the presidential election. The chairman of diversified business conglomerate Adani Group aims to enhance US energy security, develop resilient infrastructure, and create around 15,000 jobs. Adaniโs plans align with Trumpโs pro-oil stance and his intention to ease restrictions on energy production. The Adani Group is also expanding its renewable energy portfolio globally, targeting 10GW of hydroelectric projects in several countries. The projects will contribute to Adani's net-zero carbon ambitions by 2050.
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Adani Group stocks surged up to 7% today; here's a likely reason
Business Today
ยท
3m ago
Medial
Adani Group stocks saw notable gains, with Adani Power Ltd rising the most at 7.04%, followed by Adani Green Energy Ltd at 4.14%, Adani Ports and Special Economic Zone Ltd at 4.06%, and Adani Energy Solutions Ltd at 3.96%. This surge occurs amid news of US President Trump's executive order directing the DOJ to halt prosecution of Americans accused of bribing foreign officials, amidst ongoing bribery allegations against key Adani executives.
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Adani Energy raises USD 300 million from TotalEnergies for JV project
Livemint
ยท
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 โน9,350 crore ($1.2 billion) through the issuance of preferential warrants to promoters to accelerate its green energy capacity expansion.
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TotalEnergies halts Adani investments; GQG bets on Indian govt backing amid US bribery charges | Company Business News
Livemint
ยท
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 Green to raise $1.12 bn to expand renewable energy capacity
VCCircle
ยท
1y ago
Medial
Adani Green Energy, an Indian renewable energy company, will receive a $1.12 billion investment from its key shareholders to expand its renewable power capacity. The company plans to issue 63.1 million warrants on a preferential basis, with each warrant convertible into an equity share. The funds will be used to reduce debts and accelerate investment in various projects. Adani Green aims to achieve its target of 45 GW renewable capacity by 2030, up from the current 8.4 GW. The company has already raised $3 billion for its renewable capacity.
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Adani Group, Google collaborates to advance clean energy goals in India | Mint
Livemint
ยท
10m ago
Medial
- Adani Group and Google have formed a partnership to promote sustainability and expand clean energy initiatives in India. - Adani will offer renewable energy from a new solar-wind hybrid project in Khavda, Gujarat, which is set to start operating in Q3 2025. - Adani aims to provide tailored renewable energy solutions for commercial and industrial (C&I) clients, helping them meet their energy demands and reduce carbon emissions. - The collaboration supports Google's goal of achieving 24/7 carbon-free energy by ensuring its cloud operations in India run on clean energy. - Adani Group plans to focus on the commercial and merchant sectors to drive the decarbonization of industries in India.
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Adani to invest $14 bn in FY25
Thehindubusinessline
ยท
1y ago
Medial
Adani Group, led by chairman Gautam Adani, plans to invest over โน1.2 lakh crore (about $14 billion) in various sectors such as ports, energy, airports, commodities, cement, and media. This investment is part of the company's goal to spend $100 billion in the next 7-10 years to expand its businesses. About 70% of the planned investment will be allocated to Adani's green portfolio, including renewable power and green hydrogen projects. The company's strong cash flows and profitability have paved the way for these mega-scale investments.
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