Adani Green Energy surges on entering into binding agreement to create new JV
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Adani Green Energy is currently trading at Rs. 1016.70, up by 4.20 points or 0.41% from its previous closing of Rs. 1012.50 on the BSE.
The scrip opened at Rs. 1015.05 and has touched a high and low of Rs. 1024.75 and Rs. 1007.15 respectively. So far 176634 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2436.00 on 21-Sep-2022 and a 52 week low of Rs. 439.35 on 28-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1029.75 and Rs. 983.80 respectively. The current market cap of the company is Rs. 160993.14 crore.
The promoters holding in the company stood at 56.27%, while Institutions and Non-Institutions held 19.73% and 24.00% respectively.
Adani Green Energy (AGEL) and TotalEnergies have entered into a binding agreement to create a new Joint venture (JV), equally owned by TotalEnergies and AGEL, with a 1,050 MW portfolio. This portfolio will comprise a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both solar & wind power. AGEL will contribute to the JV the assets and TotalEnergies an equity investment of $300 MUS which will further support their development.
TotalEnergies will reinforce its strategic alliance with AGEL and support the company in becoming the Indian leader of renewable energy, with a target of 45 GW renewable power capacity by 2030.
Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind
