Latest news with #AdaniGreen
Time of India
2 days ago
- Business
- Time of India
India adds 1.1 GW solar open access capacity in Q1 2025, down 48% from previous quarter
New Delhi: India added 1.1 gigawatts (GW) of solar open access capacity in the first quarter (Q1) of calendar year (CY) 2025, a decline of nearly 48 per cent from 2.1 GW recorded in the preceding quarter (Q4 2024), according to the Q1 2025 edition of Mercom India's Solar Open Access Market Report. Year-on-year, installations were down by 47 per cent compared to over 2 GW in Q1 2024. The report attributed the slowdown to module shortages caused by the year-end commissioning rush driven by the close of the financial year, a lack of transmission infrastructure, delays in the connectivity approval process, and uncertainty around the Inter-State Transmission System (ISTS) waiver. "The open access solar market is beset by new challenges but the demand for clean energy has not only increased but expanded to encompass solar, wind, and energy storage. Many states are joining the green energy open access route owing to the demand their businesses operating in the state. But ISTS charges waiver would be integral to greater adoption by industries keen on wheeling power from renewable energy resource rich states," said Priya Sanjay, Managing Director at Mercom India. Solar open access projects accounted for 19.8 per cent of the total large-scale solar installations in Q1 2025. Of the open access projects installed during the quarter, 67.4 per cent were standalone solar, 32 per cent were wind-solar hybrid projects, and 0.6 per cent were floating solar installations. Maharashtra led in quarterly solar open access capacity additions, contributing nearly 29 per cent of the installations. The top five states accounted for over 89 per cent of total installations during the quarter. As of March 2025, India's cumulative installed solar open access capacity stood at 21.5 GW. Karnataka remained the leading state in terms of cumulative capacity, accounting for around 24 per cent of total installations. Maharashtra and Tamil Nadu followed, contributing nearly 17 per cent and over 12 per cent respectively. The pipeline of solar open access projects under development or in pre-construction stages was over 31 GW as of March 2025. The top five states comprised nearly 87 per cent of these pipeline projects. In Q4 2024, Adani Green was the leading seller in the Green Day-Ahead Market (G-DAM), accounting for over 41 per cent of the electricity sold. Maharashtra was the top procurer, accounting for 17 per cent of the electricity purchased through G-DAM. The cleared volume of Renewable Energy Certificates (RECs) traded on the Indian Energy Exchange (IEX) rose by 155 per cent quarter-over-quarter (QoQ), while trading in the Green Term Ahead Market (G-TAM) increased by around 72 per cent QoQ. The Q1 2025 Solar Open Access report also offers detailed insights into retail electricity tariffs, power purchase agreement (PPA) prices, and open access-related charges and costs across 15 states.
Hans India
3 days ago
- Business
- Hans India
Energy major TotalEnergies ‘committed' to support Adani Green's growth: CEO
Paris: Patrick Pouyanne, Chairman and CEO of the French energy giant TotalEnergies, has said the company is committed to continuing to support the expansion of Adani Green Energy Ltd (AGEL). In a meeting with Commerce and Industry Minister Piyush Goyal here, Pouyanne said they are committed to continuing to support the expansion of Adani Green, 'which already has 14 gigawatts of capacity,' and we 'will continue to support this growth.' Pouyanne also outlined TotalEnergies' broader Indian expansion plans, including increased energy exports from the US. Goyal also posted on X: 'Met Patrick Pouyanne, Chairman and CEO of TotalEnergies and discussed the company's investment plans for India and avenues for deeper collaboration in the renewable energy sector'. The French energy major has about $5 billion worth of investments in India, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind. In January 2021, TotalEnergies collaborated with Adani Green for the first time when it acquired a minority stake in the renewable energy company. Last month, Adani Green Energy Limited became the world's first renewable energy (RE) Independent Power Producer (IPP) to turn water positive across its entire operational portfolio, which exceeds a massive 14 GW capacity. AGEL achieved water positivity a year ahead of its FY26 target to set a new standard for sustainability. It is the first and only among the top 10 global companies (in terms of operational RE portfolio) to ever reach this milestone. Adani Green posted robust FY25 results, surpassing $1 billion in EBITDA, as operational renewable energy (RE) capacity grew a healthy 30 per cent to 14.2 GW (year-on-year), which continues to be India's largest. The Adani Group company reported greenfield addition of 3.3 GW in FY25, India's highest ever by any RE firm, and contributed 16 per cent of nationwide utility-scale solar and 14 per cent of wind installations last fiscal. AGEL is developing a massive 30 GW renewable energy plant at Khavda in Gujarat. This is spread over an area of 538 sq km, almost five times the city of Paris.
Time of India
3 days ago
- Business
- Time of India
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. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
3 days ago
- Business
- India Gazette
French energy giant TotalEnergies reaffirms support for Adani Green's expansion in India
By Shailesh Yadav Paris [France], 2 June (ANI): TotalEnergies is 'committed to continue to support the expansion of Adani Green,' Patrick Pouyanne, Chairman and CEO of the French energy giant, said on Monday. With Adani Green Energy Limited (AGEL )'s current capacity of 14 gigawatts and plans for continued expansion, the partnership with TotalEnergies is expected to play a crucial role in India's ambitious renewable energy targets and the country's transition toward cleaner energy sources. Pouyanne said this during his meeting with Indian Commerce and Industry Minister Piyush Goyal, who is currently on a three-day visit to France from June 1. 'We are committed to continue to support the expansion of Adani Green, which already has 14 gigawatts of capacity,' Pouyanne stated, adding, 'We will continue to support this growth.' The French energy major has invested approximately USD 5 billion in India over the past five years, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind installations, in partnership with Adani entities. TotalEnergies' involvement with Adani Green began in January 2021 when the company acquired a minority stake in the publicly listed renewable energy firm. As part of its strategy to strengthen renewable energy development in India, TotalEnergies also secured a 50 per cent stake in three joint ventures with AGEL operating renewable energy assets. During the Paris meetings, Pouyanne outlined TotalEnergies' broader Indian expansion plans, including increased energy exports from the United States, where the company serves as the largest energy exporter. The executive also highlighted plans to restart operations in Mozambique, which could provide additional energy supplies to India. This commitment marks a significant turnaround from TotalEnergies' position following allegations made by short-seller Hindenburg Research against the Adani Group last year. In response to those allegations, the French company had announced it would suspend further financial contributions to its Adani investments pending clarification of the accusations and their consequences. TotalEnergies emphasised that its investments in Adani entities were conducted in full compliance with applicable laws and the company's internal governance processes based on thorough due diligence and declarations provided by the investment partners. The renewed partnership comes as both companies look to capitalise on India's growing renewable energy market. Minister Goyal reportedly encouraged TotalEnergies to expand its presence in India further, building on the substantial investments already made in the country's energy infrastructure. The announcement also follows a memorandum of understanding signed with Gujarat State Petroleum Corporation (GSPC) during the India Energy Summit, signalling TotalEnergies' broader commitment to the Indian energy sector. (ANI)
Time of India
3 days ago
- Business
- Time of India
TotalEnergies to sell more LNG from US to India
TotalEnergies aims to increase LNG exports to India, particularly from the US, and plans to resume its Mozambique venture to supply energy. Despite past investment suspensions, the company continues to support Adani Green's renewable energy expansion. With significant investments in India's gas and renewable sectors, TotalEnergies sees India as a crucial LNG market. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Paris: French energy major TotalEnergies plans to sell more LNG to India, in particular, from the US and continues to support the expansion of Adani Green , its CEO Patrick Pouyanné said.'We are the largest US LNG energy exporter total energy, so we can bring more. We have also have a big venture in Mozambique with Indian companies. We will intend to restart very soon to provide energy to India. So that's also a plan,' Pouyanné said after meeting commerce and industry minister Piyush Goyal in year, the company announced suspension of additional investments in Adani Group companies amid the US' bribery allegations against the Indian conglomerate.'And then on the renewable side, we continue to support the expansion of Adani Green, which has already a 14 gigawatt of capacity. So we will continue to support this growth,' he said, adding that future plans of the company are to continue to develop energy has invested almost $5 billion in India in the last five years especially in natural gas, importing energy, city gas, development of gas infrastructure in India, and renewables.'We invest a lot in solar and wind in India, with Adani in particular,' he year, the company inked long term contracts with GSPC and IOCL to provide LNG to India.'In fact, India is becoming an important market for LNG, number four in the world in 2024 so developing this gas. So for us, finding customers, long term customers in India is good,' he said.
