Mubasher: Total is expanding its partnership with Adani Green Energy Limited (AGEL), India's largest privately-owned energy and infrastructure conglomerate, to form a 50/50 joint venture (JV) and acquire 50% of AGEL’s projects of a total capacity exceeding 2 GW across 11 Indian states.

The transaction, which remains subject to the approval of the relevant authorities, is valued at around $500 million, according to a press release on Thursday.

Commenting on the formation of the joint venture, chairman and CEO of Total, Patrick Pouyanné, said: “Total is fully engaged in the energy transition and to supporting India, a key country in the fight against climate change, in diversifying its energy mix through partnerships in natural gas and now in solar energy.”

Pouyanné added: “It [the transaction] will support our ambition to contribute to the deployment of 25 GW of renewable capacities by 2025.”