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Adani Green Energy shares jump 5 pc after Total SA deal

Adani Green Energy shares jump 5 pc after Total SA deal
April 08
11:50 2020

Shares of Adani Green Energy gained 5 per cent on Wednesday after Total SA said it has invested Rs 3,707 crore in a solar energy joint venture with the domestic firm.

The scrip jumped 4.90 per cent to Rs 166.80 on the BSE.

On the NSE, it gained 4.97 per cent to Rs 166.85.

Total SA on Tuesday said it has invested Rs 3,707 crore to set up 50:50 joint venture with Adani Green Energy Ltd (AGEL) through its step-down subsidiary.

The closing of the transaction in the current environment reinforces the strength of the relationship between the partners and further underscores robust climate commitment of both partners, it stated.

The French energy firm had last year picked up a 50 per cent stake in the 5 million tonnes per year LNG import terminal that the Adani Group is building at Dhamra in Odisha’s Bhadrak district.

Source: Business Standard

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