TotalEnergies and AGEL collaborate for a solar joint venture in Gujarat

TotalEnergies and Adani Green Energy Limited (AGEL) are forming a partnership to build a 1,150 MWac solar portfolio in Khavda, Gujarat, India

TotalEnergies and Adani Green Energy Limited (AGEL) have entered into a joint venture, equally owned by both companies, to develop a 1,150 MWac (1,575 MWp) solar portfolio in Khavda, Gujarat. The electricity generated from these solar projects will be sold through Power Purchase Agreements (PPAs) signed with the Solar Energy Corporation of India (SECI) and via wholesale market sales. This venture allows TotalEnergies to benefit from the ongoing liberalization of India’s electricity market.

This partnership strengthens TotalEnergies’ strategic alliance with AGEL, supporting AGEL’s goal of becoming a global leader in renewable energy with a target of 50 GW of renewable capacity by 2030. Currently, AGEL operates over 11 GW of solar and wind capacity across India. AGEL will contribute assets to the joint venture, while TotalEnergies will invest $444 million in equity to support the project’s development. The completion of the transaction is subject to approval by AGEL’s shareholders and satisfaction of customary closing conditions, including regulatory approvals.

AGEL, 19.75% owned by TotalEnergies, is developing the world’s largest renewable energy site in Khavda, Gujarat. Covering 538 km²—five times the size of Paris—the site will host 30 GW of solar and wind capacity, with 2 GW already operational. Once fully developed, Khavda will generate enough electricity to power 16 million homes in India.

For more details, visit: https://totalenergies.com/

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