Back Adani Green expansion: Total
PARIS: TotalEnergies has said that it intends to back Adani Green's expansion while lining up further investments in India.
"On the renewable side, we continue to support the expansion of Adani Green, which already has 14 gigawatts of capacity.
So, we will continue to support this growth," Total Energies chairman and CEO Patrick Pouyanne said after meeting commerce and industry minister Piyush Goyal.
After Adani got embroiled in legal actions in the US on corruption related allegations, TotalEnergies had said that it will not make any new "financial contribution as part of its investments in the Adani Group of companies".
Pouyanne said the company, which has invested $5 billion in India, intends to develop its energy business and sell more, especially from the US.
"We are the largest US exporter of total energy. So, we can bring more. We also have a big venture in Mozambique," he said.
LNG is one of the sectors where India is seeking to step up purchases from the US as part of efforts to make trade between the two countries more equitable. India has a trade surplus of $41 billion with the US.
Goyal met several business heads over the last two days. After his meeting with the minister, L'Oreal CEO Nicolas Hieronimus said the cosmetics major plans to more than double its business in India over the next couple of years.
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