Adani Green Block Deal: Adani Green Energy Limited (AGEL), India’s largest and one of the world’s leading renewable energy (RE) companies, signed a block deal worth Rs 2,400 crore on Wednesday, December 10. It is reported that French energy company Total Energies has sold up to 1.5 percent (2.47 crore shares) of its stake in this Adani Group company through a block deal.
Jefferies is being said to be the broker for the block deal. This block deal has been done at the floor price of Rs 970 per share. Today, the effect of this block deal which took place before the opening of the market can be seen in the shares of AGEL. As of September 30, Total Energies Renewables Indian Ocean Ltd held 15.58 per cent stake in AGEL.
Partnership since 2020
The foundation of Adani Green Energy Limited, the country’s largest renewable energy company, was laid in 2015. At present, its operational capacity is more than 16.6 GW, which is targeted to reach 50 GW by 2030. TotalEnergies is developing solar and onshore wind projects in India in collaboration with Adani Green Energy. The partnership between the two began in 2020 with the formation of AGEL23, a 50:50 joint venture to operate 2.3GW of solar projects.
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