Poging GOUD - Vrij
Total in talks to invest in Adani Green RE projects
Mint Mumbai
|September 16, 2023
TotalEnergies SE is in talks to invest in renewable energy projects developed by Adani Green Energy Ltd, people familiar with the matter said, potentially marking the first public deal between the French oil giant and Gautam Adani since a short-seller levelled fraud allegations against the Indian billionaire's business empire
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Total is looking to buy stakes in some of Adani Green's projects as part of its drive to expand its portfolio of clean energy projects, said the people, who asked not to be identified as the discussions are private.
The French group could invest about $700 million in total into the projects, one of the people said.
Shares of Adani Green rose as much as 2.9% in Mumbai on Friday, touching the highest level in more than a week.
Deliberations are ongoing and there's no certainty for a transaction, the people said. Representatives for Adani and Total declined to comment.
The deal would increase Total's presence in the fastgrowing Indian energy market, while giving Adani Green more means to develop new renewable energy projects.
Dit verhaal komt uit de September 16, 2023-editie van Mint Mumbai.
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