Joint Venture between TotalEnergies (17.25% share) and Adani.
This partnership commenced in 2020, with the creation of AGEL23, a 50-50 joint venture with leading solar developer Adani Green Energy Limited (AGEL) for the operation of 2.3 GWac/3.1 GWp of solar projects.
Further in January 2021, TotalEnergies acquisition of a 20% stake (currently 17.25%) in Adani Green Energy Ltd strengthened its strategic alliance with Adani Group while consolidating its position in renewables.
This was followed by two more 50-50 joint ventures for 1.05GWac/1.53GWp and 1.15GWac/1.5GWp of renewable energy projects in 2023 and 2024 respectively, taking overall renewable projects under joint venture to 4.5 GWac/6.2 GWp.
With overall renewable deal of $3.25 Bn, this represents the single largest investment by TotalEnergies in the renewables sector.
AGEL is India's largest renewable energy solutions partner that develops, owns, and operates utility-scale grid connected solar, wind, and hybrid renewable power plants. As of Mar’26, the company has an operational renewable portfolio of 19.3 GWac/26.6 GWp spread across 12 states.