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Total: takes 20% stake in AGEL

(CercleFinance.com) - Total has announced the acquisition, from the Indian conglomerate Adani, of a 20% minority stake in Adani Green Energy Limited (AGEL), the world's leading solar developer, thereby giving Total a seat on its board directors.


Both groups have agreed that, in addition to this stake, Total will acquire a 50% stake in an operating solar portfolio of 2.35 GWac held by AGEL, all of which totals 2.5 billions of dollars.

With a contracted renewable capacity of over 14.6 GW, including 3 GW in operation, 3 GW in construction and 8.6 GW in development, AGEL targets 25 GW of electricity generation capacity from renewables in 2025.


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