Adani Green Energy jumps on completing 1,050 MW joint venture with TotalEnergies

27 Dec 2023 Evaluate

Adani Green Energy is currently trading at Rs. 1622.35, up by 22.45 points or 1.40% from its previous closing of Rs. 1599.90 on the BSE.

The scrip opened at Rs. 1649.95 and has touched a high and low of Rs. 1657.50 and Rs. 1618.05 respectively. So far 57669 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2185.30 on 18-Jan-2023 and a 52 week low of Rs. 439.35 on 28-Feb-2023.

Last one week high and low of the scrip stood at Rs. 1657.50 and Rs. 1392.95 respectively. The current market cap of the company is Rs. 257302.32 crore.

The promoters holding in the company stood at 56.26%, while Institutions and Non-Institutions held 19.65% and 24.08% respectively.

Adani Green Energy (AGEL) has completed the 1,050 MW joint venture (JV) with TotalEnergies. As part of the JV, TotalEnergies invested $300 million in AGEL subsidiary, for acquiring 50% stake in the projects.

This follows the binding agreement about the JV announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both solar & wind power projects in India. With this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL’s target of 45 GW capacity by 2030.

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.

Adani Green Energy Share Price

1033.50 -40.20 (-3.74%)
20-Dec-2024 16:59 View Price Chart
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