logo
Energy major TotalEnergies ‘committed' to support Adani Green's growth: CEO

Energy major TotalEnergies ‘committed' to support Adani Green's growth: CEO

Hans India03-06-2025

Paris: Patrick Pouyanne, Chairman and CEO of the French energy giant TotalEnergies, has said the company is committed to continuing to support the expansion of Adani Green Energy Ltd (AGEL).
In a meeting with Commerce and Industry Minister Piyush Goyal here, Pouyanne said they are committed to continuing to support the expansion of Adani Green, 'which already has 14 gigawatts of capacity,' and we 'will continue to support this growth.'
Pouyanne also outlined TotalEnergies' broader Indian expansion plans, including increased energy exports from the US.
Goyal also posted on X: 'Met Patrick Pouyanne, Chairman and CEO of TotalEnergies and discussed the company's investment plans for India and avenues for deeper collaboration in the renewable energy sector'.
The French energy major has about $5 billion worth of investments in India, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind.
In January 2021, TotalEnergies collaborated with Adani Green for the first time when it acquired a minority stake in the renewable energy company.
Last month, Adani Green Energy Limited became the world's first renewable energy (RE) Independent Power Producer (IPP) to turn water positive across its entire operational portfolio, which exceeds a massive 14 GW capacity.
AGEL achieved water positivity a year ahead of its FY26 target to set a new standard for sustainability. It is the first and only among the top 10 global companies (in terms of operational RE portfolio) to ever reach this milestone.
Adani Green posted robust FY25 results, surpassing $1 billion in EBITDA, as operational renewable energy (RE) capacity grew a healthy 30 per cent to 14.2 GW (year-on-year), which continues to be India's largest.
The Adani Group company reported greenfield addition of 3.3 GW in FY25, India's highest ever by any RE firm, and contributed 16 per cent of nationwide utility-scale solar and 14 per cent of wind installations last fiscal.
AGEL is developing a massive 30 GW renewable energy plant at Khavda in Gujarat. This is spread over an area of 538 sq km, almost five times the city of Paris.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Decision on merger with Biocon Biologics soon, says Siddharth Mittal
Decision on merger with Biocon Biologics soon, says Siddharth Mittal

Business Standard

time29 minutes ago

  • Business Standard

Decision on merger with Biocon Biologics soon, says Siddharth Mittal

We are talking about the GLP-1 opportunity and our strong franchise in insulins. There is a huge demand in the global diabetes-obesity segment, said Siddharth Mittal Sohini Das Mumbai Listen to This Article Biocon successfully raised ₹4,500 crore through a qualified institutional placement (QIP) last week that saw strong interest from both Indian and global investors. It is also considering a merger of Biocon Biologics with Biocon to tap into business and scientific synergies rather than listing Biocon Biologics. In a virtual interaction with Sohini Das, Siddharth Mittal, chief executive officer (CEO) and managing director (MD) of Biocon outlined his plans. Edited excerpts: Your QIP was successful. What do you plan to do with the proceeds? There was very strong investor demand. The Board had approved raising up to ₹4,500 crore in one,

Stock Market Updates: Sensex Tanks Over 700 Points, Nifty Below 24,950 Mark In Pre-Open
Stock Market Updates: Sensex Tanks Over 700 Points, Nifty Below 24,950 Mark In Pre-Open

News18

time36 minutes ago

  • News18

Stock Market Updates: Sensex Tanks Over 700 Points, Nifty Below 24,950 Mark In Pre-Open

Last Updated: Indian benchmark indices Sensex and Nifty are expected to open on a cautious note today Sensex Today: Indian benchmark indices Sensex and Nifty are expected to open on a cautious note today, as a sharp rise in crude oil prices and escalating geopolitical tensions weigh on investor sentiment. The situation intensified after the United States directly entered the Israel-Iran conflict with strikes on Iranian nuclear facilities, sparking fears of a broader regional war and unsettling global markets. Adding to the pressure, mixed global cues and institutional fund flows are likely to influence market direction in today's session. As of 8:20 AM, GIFT Nifty futures were trading 112 points lower at 25,111, indicating a gap-down start for domestic equities. Global Cues Asia-Pacific markets tumbled on Monday following the US airstrikes on three Iranian nuclear sites, which raised the spectre of a wider conflict in the Middle East and drove oil prices higher. Brent crude rose 2.62% to $79.06 per barrel, while West Texas Intermediate (WTI) gained 2.75% to $75.89 per barrel. Oil prices have been on an upward trend in recent weeks due to rising geopolitical instability in the region. Gold also surged amid the uncertainty, jumping 2.95% to $3,379.60 per ounce as investors flocked to safe-haven assets. In equities, Japan's Nikkei dropped 0.74%, while the broader Topix fell 0.64%. South Korea's Kospi lost 1.22%, and Australia's ASX 200 declined 0.76%. US stock futures retreated during early Asian trading hours. Dow Jones futures were down 0.3%, while S&P 500 and Nasdaq 100 futures slipped 0.3% and 0.4%, respectively. On Wall Street last Friday, two of the three major indices closed in the red. The S&P 500 shed 0.22%, marking its third consecutive loss, and the Nasdaq Composite dropped 0.51%. The Dow Jones Industrial Average, however, inched up by 0.08%. About the Author Aparna Deb Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: News business » markets Stock Market Updates: Sensex Tanks Over 700 Points, Nifty Below 24,950 Mark In Pre-Open

Zen Technologies shares in focus after board approves acquisition of TISA Aerospace
Zen Technologies shares in focus after board approves acquisition of TISA Aerospace

Time of India

time37 minutes ago

  • Time of India

Zen Technologies shares in focus after board approves acquisition of TISA Aerospace

Shares of Zen Technologies are likely to be in focus on Monday, June 23, following the company's announcement of a proposed acquisition of a majority stake in TISA Aerospace, an emerging defence technology firm specialising in loitering munitions and unmanned aerial vehicles (UAVs). In an exchange filing, Zen Technologies disclosed that its Board of Directors, at a meeting held on Saturday, approved an investment of up to Rs 6.56 crore towards the proposed acquisition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Shoppers Say This Wrinkle Cream Is "Actually Worth It" The Skincare Magazine Undo The investment will be executed through two components: The acquisition of 2,06,518 equity shares of Rs 10 each from an existing shareholder of TISA Aerospace, representing 54.67% of the total equity paid-up share capital of the company. The acquisition of 4,00,000 units of 6% Compulsory Convertible Debentures (CCDs) of Rs 100 face value each, from an existing CCD holder, also issued by TISA. The Board of Directors has unanimously approved the investment, which involves acquiring shares from current stakeholders of TISA as well as CCDs previously issued by TISA. The company stated that the transaction represents an investment in a domain of strategic relevance, comprising indigenously developed defence technologies. Live Events TISA Aerospace is positioned as a domestic player within the high-technology defence ecosystem. The company is engaged in the development of loitering munitions and UAVs—both of which are key segments within the evolving landscape of modern precision-guided weapon systems. Zen Technologies, through this acquisition, is entering a segment associated with advanced defence applications. 'This acquisition is a decisive step towards strengthening Zen's position in the rapidly evolving defence drone sector. TISA's expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio,' said Ashok Atluri, Chairman and Managing Director of ZenTechnologies. Also read: How will US strikes on Iran affect Indian markets this week? Shares of Zen Technologies closed flat at Rs 1,900.30 on the BSE on Friday. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store