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TotalEnergies to invest $300 mln in JV with Adani Green Energy

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at the company's headquarters skyscraper in the financial and business district of La Defense, near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes/File Photo

By Sethuraman N R and Forrest Crellin

French oil major TotalEnergies will invest $300 million to form a joint venture with Adani Green Energy to build renewable capacity in India, the two companies’ first deal since India’s Adani Group was involved in an alleged tax fraud scandal.

Adani Group shares lost about $150 billion in value following allegations by U.S. short seller Hindenburg Research that the company engaged in improper dealings and used tax havens.

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