Adani Group gets cash boost from stake sale to Total, but is it enough?
Stake sale to Total sets a benchmark for Adani Green Energy’s market valuation. Proceeds from the sale can help the group fund capex and reduce pledges of shares
January 20, 2021 / 08:25 AM IST
Adani group’s sale of a 20 percent stake in Adani Green Energy to Total Renewables SAS spells two implications for minority shareholders of the group's listed companies.
One is a deepening of the relationship with Total. The French energy major is targeting a renewable power generation capacity of 35 gigawatt (GW) by 2025 and is actively participating in global tenders. Last year Total purchased a 50 percent stake in a joint venture (JV) that housed 2.15 GW which was later scaled up to 2.35 GW. 1,000 megawatt...