French energy giant Total on Jan. 18 said it was acquiring a 20% stake in listed solar power generation company Adani Green Energy from the privately held Adani Group and would take a seat on AGEL's board.
Total will pay $2.5 billion in return for the AGEL stake and a 50% share of a portfolio of operating solar assets owned by the Indian company.In 2019, Total announced it had reached an agreement to buy a stake of up to 37.4% in Adani Gas for as much as $866 million.AGEL shares fell 1.9% to 930 rupees by 0950 GMT on Jan. 18. Total shares were down 0.7% at 36.86 euros.The logo of the French oil giant Total Refinery is seen in Donges, France, December 20, 2019.
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