To expand presence in green energy fields in India Total agreed to acquire 20% minority stake in Adani Green Energy Limited (AGEL) from Adani Group for approximately $2.5 billion. As per deal Total will acquire 50% stake in a 2.35 GWac portfolio of operating solar assets owned by AGEL
- The investment in AGEL is another step in the strategic alliance between Adani Group and Total, which covers investments in LNG terminals, gas utility business, and renewable assets across India.
- In 2018, Total and Adani embarked on the energy partnership with investment by Total in Adani Gas Limited, city gas distribution business, associated LNG terminal business and gas marketing business.
The prominent investments and expansions by Total are mentioned below:
Dec 2020: The LNG leader Sempra LNGs joint venture, ECA Liquefaction with Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), has signed an equity investment agreement to finalize Total’s participation in the ECA LNG Phase 1 liquefied natural gas (LNG) export project.
Oct 2020: Total becomes a 20% stake holder in the Eolmed floating wind farm pilot project, located in the Mediterranean, off the coast of Gruissan and near Port-La-Nouvelle, France.
Sep 2020: Total announced that it will invest more than approximately $592 million to convert its Grandpuits refinery (Seine-et-Marne) into a zero-crude platform. Total has decided to end its oil refining at Grandpuits and embark on an industrial transformation of the site, backed by a major investment plan.
Sep 2020: The leading automotive manufacturer Groupe PSA signed an agreement with Total for the creation of the joint venture Automotive Cells Company (ACC). The new JV will develop high-performance lithium-ion technologies.
July 2020: Indias leading refiner and marketer of petroleum products Indian Oil Corporation, had announced the formation of a 50:50 Joint Venture (JV) company with energy giant Total for bitumen derivatives.
June 2020: Total, had signed an agreement with Siemens Gas and Power, a wholly owned subsidiary of leading technology company Siemens AG to advance new concepts for green liquified natural gas (LNG) production.
June 2020: Total had announced an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project in Scottish waters of UK North Sea.
May 2020: The leading oil and gas company Qatar Petroleum announced a farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire.
April 2020: TOTAL S.A announced that its step-down subsidiary had invested approximately $486 million for 50% partnership with Adani Green Energy Limited (AGEL) in a Joint Venture (JV) in India. The JV houses 2.148 GW operating solar projects across 11 states in India.
Total is a global energy player, based in France. Total produces and markets fuels, natural gas and low-carbon electricity. Totals 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Total is active in more than 130 countries.