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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 Acquire Licensing Rights
Sept 14 (Reuters) – French oil major TotalEnergies (TTEF.PA) is in talks to invest in renewable energy projects developed by India’s Adani Green Energy (ADNA.NS) as part of its clean energy push, Bloomberg News reported on Friday, citing unnamed sources.
Total could invest about $700 million in the projects, the report said, citing one source.
TotalEnergies and Adani did not immediately respond to Reuters’ requests for comment.
Any deal could be the first between the French company and billionaire Gautam Adani’s group since U.S. short-seller Hindenburg in January raised governance concerns and alleged improper dealings, slamming Adani shares. The Adani Group has denied wrongdoing.
Shares of Adani companies have since recouped some losses after it repaid part of its debt and secured investments. Adani Green shares were up 0.5% on Friday.
Adani Green had in July said it approved raising 123 billion rupees through a qualified institutional placement.
Reporting by Evelyn Nikhila S and Navamya Ganesh Acharya in Bengaluru; Editing by Mrigank Dhaniwala
Our Standards: The Thomson Reuters Trust Principles.
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