REG-TotalEnergies SE India: Adani Green Energy Completes the Acquisition of the 5 GW Renewable Portfolio of SB Energy India

TotalEnergies SEAnnouncement

04/10/2021 07:35

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India: Adani Green Energy Completes the Acquisition of the 5 GW Renewable
Portfolio of SB Energy India

 

Following the completion of Adani Green Energy’s (AGEL) acquisition of 100%
interest in SB Energy India from SoftBank Group Corp (“SBG”) (80%) and
Bharti Group (20%) announced on 19(th) May 2021, TotalEnergies (Paris:TTE)
(LSE:TTE) (NYSE:TTE), which holds a 20% interest in AGEL adds a net capacity
of ~1.4 GWp(1) of projects in operation and under construction to its
renewable portfolio.

SB Energy India has a total renewable portfolio of 5 GWac(2) spread across
four states in India. It consists of utility-scale farms of which 84% solar
capacity (4,180 MWac), 9% wind-solar hybrid capacity (450 MW) and 7% wind
capacity (324 MW) with 1,700 MW in operation and a further 2,554 MW under
construction and 700MW near construction(3). All projects have 25-year PPAs
with sovereign rated counterparties such as Solar Energy Corporation of India
Ltd. (SECI), NTPC Limited and NHPC Limited.

The transaction by AGEL values SB Energy India at a fully completed enterprise
valuation of approximately USD 3.5 Bn(4).

“We would like to congratulate AGEL’s management for closing this major
transaction, which is reinforcing its leadership position in India and its
capacity to contribute actively to the country’s sustainable development, an
objective that TotalEnergies shares with Adani Group," said Patrick Pouyanné,
Chairman and CEO of TotalEnergies. “This transaction and our partnership
with AGEL are key contributors to the Company’s objective of reaching 35 GW
of gross production capacity from renewable sources by 2025 and to be among
the world’s top 5 in renewable energies by 2030.”

TotalEnergies, renewables and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in renewables and electricity that should account
for up to 40% of its sales by 2050. At the end of 2020, TotalEnergies’ gross
power generation capacity worldwide was around 12 GW, including 7 GW of
renewable energy. TotalEnergies will continue to expand this business to reach
35 GW of gross production capacity from renewable sources by 2025, and then
100 GW by 2030 with the objective of being among the world's top 5 in
renewable energies.

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on
a global scale: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is ever more
affordable, clean, reliable and accessible to as many people as possible.
Active in more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations to
contribute to the well-being of people.

Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. In this document, the terms
“TotalEnergies”, “TotalEnergies “Company” and “Company” are
sometimes used for convenience. Likewise, the words “we”, “us” and
“our” may also be used to refer to subsidiaries in general or to those who
work for them. This document may contain forward-looking information and
statements that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk factors. Neither
TotalEnergies SE nor any of its subsidiaries assumes any obligation to update
publicly any forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information, future
events or otherwise.
 __________________                                                            
 (1) Gigawatt peak (GWp)                                                       
 (2) Gigawatt alternative current (GWac)                                       
 (3) ‘Near Construction’ denotes that Letter of Award is received and PPA      
 to be signed                                                                  
 (4) Fully completed enterprise valuation includes all future projects capex   


TotalEnergies Contacts 

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPress

Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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