French energy giant TotalEnergies has reiterated its commitment to supporting the growth of Adani Green Energy Limited (AGEL), a key player in India’s renewable energy sector.
Speaking on Monday during a meeting with Indian Commerce and Industry Minister Piyush Goyal, TotalEnergies Chairman and CEO Patrick Pouyanné said the company remains dedicated to backing AGEL’s expansion. “We are committed to continue to support the expansion of Adani Green, which already has 14 gigawatts of capacity,” Pouyanné said, adding, “We will continue to support this growth.”
AGEL, currently operating 14 GW of renewable energy capacity, is looking to expand further as part of India’s broader push toward clean energy. TotalEnergies’ continued partnership is seen as pivotal in helping India meet its ambitious renewable energy targets.
Over the past five years, TotalEnergies has invested nearly USD 5 billion in India, with a focus on natural gas infrastructure, city gas networks, and renewable energy—particularly in solar and wind. The company entered into partnership with AGEL in January 2021 through the acquisition of a minority stake in the listed firm and later expanded its involvement by taking a 50% stake in three joint ventures operating renewable assets.
During his discussions in Paris, Pouyanné also outlined TotalEnergies’ broader strategy in India, which includes increasing energy exports from the United States and resuming operations in Mozambique—potential sources of energy supply for India in the future.
The renewed commitment comes after a period of caution from TotalEnergies, following allegations made by short-seller Hindenburg Research against the Adani Group in early 2023. In response to those claims, the French company had paused new financial commitments to Adani-linked projects while awaiting further clarity. At the time, TotalEnergies maintained that its investments were made in accordance with legal requirements and internal due diligence protocols.
As India continues to push for rapid energy transition, the TotalEnergies-Adani partnership is seen as a key driver in achieving national sustainability goals. Minister Goyal, who is on a three-day visit to France starting June 1, encouraged TotalEnergies to deepen its engagement in India’s energy sector, building on its existing footprint.
The announcement also follows the signing of a memorandum of understanding with Gujarat State Petroleum Corporation (GSPC) during the recent India Energy Summit, underscoring TotalEnergies’ expanding role in India’s energy landscape.
