Adani Green Energy, part of the diversified Adani Group, is one of the largest renewable companies in India. TOTAL is a major energy player that produces and markets fuels, natural gas and low-carbon electricity.
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Shares of Adani Green Energy jumped almost 5 percent in morning trade on BSE on April 8, a day after the company said it received Rs 3,707 crore for the formation of the joint-venture (JV) with a French firm TOTAL.
“TOTAL S.A. (TOTAL), through its step-down subsidiary has invested approximately Rs 3,707 crore for a 50 percent partnership with Adani Green in a JV,” a regulatory filing by the company on April 7 said.
“Through the establishment of the joint venture, both partners aim to adhere to the highest standards of governance and strengthen the foundation of the partnership between the two groups. The closing of the transaction in the current environment reinforces the strength of the relationship between the partners and further underscores the robust climate commitment of both partners,” the BSE filing added.
Adani Green Energy, part of the diversified Adani Group, is one of the largest renewable companies in India. TOTAL is a major energy player that produces and markets fuels, natural gas and low-carbon electricity.
Shares of Adani Green traded 3.08 percent up at Rs 163.90 on BSE around 11:15 hours.
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First Published on Apr 8, 2020 11:24 am
