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Issue 3 2021 - Total invests in the acquisition of shares in renewable energy companies in India

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Total buys shares in renewable energy companies in India

According to foreign media on January 19, French oil and gas giant Total will spend $2.
5 billion to acquire a stake in Indian renewable energy company Adani Green Energy Ltd (AGEL) and a portfolio of solar energy assets, marking the company's latest move
to reduce its dependence on oil.

Through the investment, Total will receive a 20% stake in AGEL and a board seat, as well as a 50% stake
in the Indian company's solar portfolio.
Commenting on Total's acquisition, Chief Executive Patrick Pouyanne said: "Our entry into AGEL is an important milestone
in our mutual renewable energy business strategies in India.
Given the size of the market, India is the right place
to implement our energy transition strategy based on the twin pillars of renewable energy and natural gas.
”

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