adani green

Adani Green & TOTAL Solar Form A Joint Venture For 2.1 GW Solar Projects

Adani Green Energy Limited (AGEL), a Gujarat-based solar power developer, announced that it has entered into a joint venture with TOTAL Solar Singapore PTE Limited for about 2.1 GW of operating solar power projects presently owned by Adani.

AGEL announced this through a filing on the Bombay Stock Exchange (BSE). The filing noted that after a meeting with the board of directors on March 22, 2020, it approved a draft joint venture agreement between TOTAL Solar Singapore PTE Limited and Adani Green Energy Twenty-Three Limited, a wholly-owned subsidiary of AGEL.

The subsidiary will acquire 2,148 MW of AGEL’s operating solar power projects. It stated that the JVA would record the terms and conditions for:

  1. Regulating the operation and management of the JV company
  2. Governing the relationship between Adani and Total
  3. Certain rights and obligation of Adani and Total concerning the JV company

It noted that AGEL would hold 100% of the paid-up equity share capital.

This is a Businesswire Feed, edited by Clean-Future Team